Carmila, the French retail specialist focused on shopping centres adjoining Carrefour hypermarkets, has acquired two shopping centres in Marseille, France and Madrid, Spain from French REIT Klépierre for just over €212 mln.
The assets are Grand Vitrolles, a 24,350 m2 retail gallery with 80 retail units in Marseille; and Gran Via de Hortaleza, a 6,300-m2 retail gallery with 70 retail units in Madrid.
Both assets are located adjacent to Carrefour hypermarkets. While the Spanish property is fully owned by Klépierre, Grand Vitrolles is 83% owned by Klépierre with the remained held by French institutional investor CNP.
The sales price is in line with the assets' appraised value as per end-June 2017, Klépierre said, adding that the sale is 'consistent with its regular asset rotation strategy'.
Closing of the transaction is expected to occur in the Q1 this year.
