French listed commercial property company Carmila has sold a fully-leased asset in Torcy, France, to Etixia, the property unit of ready-to-wear company Kiabi.
The sale price of €35 mln, including transfer taxes, is in line with the appraisal value.
Located in the Ile-de-France region, Bay 1 was acquired by Carmila in 2014 and consists of 25 units, including many innovative restaurant concepts and several mid-sized stores.
The transaction is expected to close in the second half of 2023.
The sale follows the disposal of an asset in Tarnos, France, in Q2 2023, for €8 mln, including transfer taxes.
The divestments are in line with Carmila's new target, announced in February 2023, to sell a further €100 mln of assets by the end of 2024.
The company's portfolio was valued at €6 bn on 30 June, comprising 202 shopping centres, all leaders in their catchment areas.
