Klépierre, the leading European shopping center platform, signed an agreement for the disposal of two retail malls for a total consideration of €212.2 million (including transfer duties) to Carmila.
The two retail malls, which are anchored by a Carrefour hypermarket, are the following:
– Grand Vitrolles (Klépierre equity interest 83%; CNP 17%), located near Marseille (France), a 24,350-sq.m. gallery with 80 retail units adjacent to a Carrefour hypermarket of 20,500 sq.m.;
– Gran Via de Hortaleza, fully owned by Klépierre and located in Madrid in Spain, a 6,300-sq.m. gallery with 70 retail units (Carrefour hypermarket of 10,950 sq.m.).
These assets were sold for a total consideration of €212.2 million (including transfer duties), in line with their appraised value as of 30 June, 2017.
This divestment is consistent with Klépierre’s regular asset rotation strategy. Since January 1, 2017, €365.3 million (excluding transfer duties) worth of disposals (completed or under promissory agreement) had been reached. Adding in today’s operation, the total amount of disposals reaches €568.1 million (excluding transfer duties).
The closing of the transaction is expected to occur in the Q1 this year.
Source: Klépierre