Ingka Centres has acquired the 61,800sqm Italie Deux shopping centre asset in Paris from Hammerson and AXA IM Alts as part of a trio of acquisitions in the French capital.
The property arm of furniture retailer IKEA said it has bought Italie Deux together with the recent high-street extension ItaliK and the neighbouring office complex Apollo without giving any financial details.
In a separate announcement, Hammerson disclosed selling its 25% stake in Italie Deux, and 100% of the 6,500sqm Italik extension for €164m.
Back in 2019, AXA IM Alts bought its 75% stake in the Italie Deux asset from Hammerson for €473m.
Cindy Andersen, Ingka Centres’s managing director, said: “Paris is famous for its unique vibe that brings people together and inspires great ideas. Italie Deux is one of the premier retail destinations in Paris, known for its mix of shopping, food and culture, and we are excited to continue to develop its offer with an affordable, sustainable range of destination retail, culinary experiences and amenities to help our partners and communities to thrive.”
Ingka Centres said all three assets will be united into its first urban meeting place in France.
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