Immobiliare Grande Distribuzione (IGD) posted a €9.9m drop in revenues at its Winmarkt shopping centers in Romania. The decrease was due to lower rents and fewer visitors, the Italian operator reported. The commercial centers occupancy rate was 84.5 percent at the end of December, according to IGD. The company’s revenues were also affected by the renovation work involved with the H&M store openings.
IGD owns 15 Winmarkt shopping centers in Romania in 13 cities. The company is present in Romania and Italy. It posted €120m in sales for 2013. IGD announced Monday that Quantum Strategic Partners bought a 5-percent stake in the company.
