Post by M&G

Another step forward for BauMont's European real estate strategy. BauMont Real Estate Capital Limited, part of M&G Real Estate, has acquired Città Sant’Angelo Outlet Village, a well-established retail destination in the Abruzzo region of Italy. With around 1.7 million annual visitors, a surrounding area of more than 1.8 million people and high occupancy levels, the 29,000 sqm village is well positioned for its next phase of growth. BauMont will focus on completing the letting of the centre's recent extension and enhancing the customer experience to meet evolving retailer and consumer needs. Olivier Vellay, Partner at BauMont Real Estate Capital, said: “This acquisition reflects our strategy of targeting high-quality assets with the potential to enhance income and deliver long-term performance. Supported by strong tourism, resilient demand and limited new supply, the Italian outlet sector offers compelling fundamentals.” The acquisition builds on the strength of M&G Real Estate's €39bn platform and BauMont's growing presence across European real estate markets.