COIMA, a firm that manages real estate transactions, involving commercial properties, at generating rental income, completed the acquisition of retail building in Milan from Eataly, a chain of large format and footprint Italian marketplaces, for $68m. “This investment will be transformational for Porta Nuova’s retail and hospitality offering, which will benefit from an increase in footfall from 10m to over 15m by 2025. By working with Eataly, a world-famous Italian company, we are staying true to Porta Nuova’s Italian roots, whilst at the same time creating a global attraction. With Eataly we have found a partner with whom we share sustainability objectives throughout the entire production and distribution chain. Porta Nuova will increasingly become an exemplar model of neighbourhood management through the creation not only of a destination, but of an active community with smart, tech-enabled benefits, in which residents, workers, visitors and tourists live, work and play," Manfredi Catella, COIMA Founder and CEO.