ONCE IN A LIFETIME OFF-MARKET TROPHY RETAIL PROPERTY INVESTMENT TRANSACTION – ADVISORY ON RETAIL LEASES AND REDEVELOPMENT
We have successfully advised ITH on this off-market acquisition. The foreign family office behind MEDCAP Real Estate was strategically advised by Philipp Gajzer during the entire acquisition and retail development process.
The closing collided with the pandemic crises but against all odds we succeeded in procuring the necessary terminations of the existing retail tenancies and brokered the required agreements with the seller in order to save this landmark transaction: especially the strategic agreement with Salvatore Ferragamo was key to success:
During the peak of the pandemic crisis we also brokered the early termination of this lease, allowing the redevelopment construction to take place during the lock down periods, and we brokered the new long term lease agreement for SALVATORE FERRAGAMO’S new flagship store unit which today represents one of their most dramatic stores in Europe.
We are proud to call this project one of our most outstanding achievements for our precious clients in Europe.