Genova Sviluppo acquires Genova Waterfront retail district from Orion and CDS Holding

Genova Sviluppo S.r.l., a special purpose vehicle owned by Ceetrus Italy S.p.A. (Auchan Group) and Runca S.r.l., has finalised the acquisition of the entire share capital of Genova Retail S.r.l. The target company was previously held indirectly by Orion European Real Estate Fund V and CDS Holding and is the owner of the new Waterfront retail district in Genoa. Located along the city’s eastern seafront, the site is a prominent venue that hosts the International Boat Show and other major events.

The transaction is a key component of a larger urban redevelopment project aimed at creating an integrated commercial hub. The development will feature a flagship Coop supermarket as its primary food anchor. To facilitate the closing of the deal, Genova Sviluppo S.r.l. secured financing from a banking pool comprising Intesa Sanpaolo S.p.A., Banca Nazionale del Lavoro S.p.A., and Banco BPM S.p.A.

Genova Sviluppo S.r.l. and its shareholders were advised on all legal aspects of the transaction by Giovannelli e Associati. The firm’s team was led by partner Michele Mocarelli and included associates Camilla Lanzafame and Benedetta Paccoia.

Dentons represented the seller, CDS Waterfront Genova S.r.l., and its partners. The team was coordinated by Federico Sutti, chairman of the Europe board and Italy managing partner, and partner Maria Sole Insinga, supported by associate Sebastiano Berto for corporate real estate and contractual matters. Finance profiles were managed by partner Edoardo Galeotti and counsel Rosalba Pizzicato.

Chiomenti provided legal counsel to the seller regarding urban planning matters, with a team led by partner Federico Vanetti.

McDermott Will & Schulte assisted the lending banks with a team coordinated by partners Giancarlo Castorino and Francesco Romeo, supported by associates Edoardo Testagrossa and Maha Dirrhami.