IMMOFINANZ is continuing the expansion of its successful STOP SHOP retail park brand by entering a new market in Western Europe - Italy. The first acquisition in this country is the fully occupied Parco Fiore in the north Italian city of San Fior with roughly 27,000 sqm of rentable space. The seller is the international investment bank Barings, which held the property in the European Core Property Fund Italy managed by Kryalos SGR. The sale price totalled approximately EUR 35.0 million. This retail park, which will operate as the STOP SHOP San Fior, is located 37 kilometers north of Treviso and 60 kilometers north of Venice, in the heart of the Veneto region. The catchment area within a radius of 30 minutes by car has nearly 100,000 residents. The Veneto region is one of the strongest economic and high-income regions in Italy with purchasing power substantially above the average for the country and also for the entire EU. The property, with its 1,500 parking spaces, is conveniently located along the SS 13 Pontebbana state road which leads from Venice to Udine and Tarvis and then on to Austria. The retail park was completed in two phases during 2017 and 2019 and has a very attractive tenant mix with international retailers like C&A, Takko, MediaWorld, Decathlon, Roadhouse Grill and Burger King plus well-known Italian brands that include Mega (supermarket), Globo and Terranova (fashion) and Casa Tua (furniture). The remaining term of the rental agreements (WAULT) totals roughly 7.7 years. One highlight of this retail park is the photovoltaic equipment that is currently under construction and will feed green electricity into the public network. The new portfolio property supports IMMOFINANZ's sustainability demands for all locations. IMMOFINANZ launched a project in 2019 to install photovoltaic equipment at STOP SHOP retail parks, whereby the most widespread installation is currently taking place in Austria.