French retail investor Altarea-Cogedim has signed a deal to take full ownership of the Qwartz regional shopping centre outside Paris.
French retail investor Altarea-Cogedim has signed a deal to take full ownership of the Qwartz regional shopping centre outside Paris.
Altarea-Cogedim acquired the 50% it did not already own from joint venture partner, Orion European Real Estate Fund III, a fund managed by Orion Capital Managers.
The transaction was based on a full market valuation for the centre of €400 mln.
The 86,000 m2 centre in Villeneuve-La-Garenne opened a year ago and contains a Carrefour hypermarket as well as 15 mid-sized stores, including Marks & Spencer, H&M and Primark.