Klepierre's subidiary Klemurs is acquiring a portfolio of 14 retail assets located on the outskirts of several French metropolitan areas from the Belgian investment firm Mitiska for EUR 28.1 mln. The Cap Nord real estate portfolio covers an area of 21,816 m2, divided into 22 fully-occupied rental units.

Klepierre's subidiary Klemurs is acquiring a portfolio of 14 retail assets located on the outskirts of several French metropolitan areas from the Belgian investment firm Mitiska for EUR 28.1 mln. The Cap Nord real estate portfolio covers an area of 21,816 m2, divided into 22 fully-occupied rental units.

The largest retail tenant, Mondial Moquette, generates about 58% of the total lease income, the company said in a press release. Other tenants include retailers including L'Univers du Sommeil, Gemo, Heytens, King Jouet, Autour de Bébé, Jean Delatour, Kiloutou and Animalis. The 9-year leases are mostly set to expire in 2015.

The Cap Nord assets are located in Northwest France, near Paris, Lille, Nantes, Rennes, Le Mans, as well as outside the cities of Lyon, Clermont-Ferrand and Toulon.

Klépierre's chairman Michel Clair noted: 'The portfolio that Klémurs has just acquired contains assets with real potential. For Klémurs, this transaction confirms the existence of a major source of high-quality retail property assets in addition to the shopping centers in which Klépierre is involved.'

Klemurs' portfolio is valued at EUR 334 mln. The company said it is planning to triple in size within three to five years.