French property firm Klepierre on Thursday confirmed its EUR 1 bn investment target for the full-year 2007. In a statement, Klepierre said as part of this plan it had opened its 240th shopping centre, the Champ de Mars in the French city of Angouleme. The 15,500 m[sup]2[/sup] shopping centre was 99% let on its opening on Wednesday, and represented an investment of EUR 63.3 mln. The French company said it expects the shopping centre to bring in net annual rental income of EUR 4.4 mln.
French property firm Klepierre on Thursday confirmed its EUR 1 bn investment target for the full-year 2007. In a statement, Klepierre said as part of this plan it had opened its 240th shopping centre, the Champ de Mars in the French city of Angouleme. The 15,500 m2 shopping centre was 99% let on its opening on Wednesday, and represented an investment of EUR 63.3 mln. The French company said it expects the shopping centre to bring in net annual rental income of EUR 4.4 mln.
The company said it had also acquired a shopping centre project in downtown Budapest from Futureal Real Estate. Klepierre said it will invest a total of EUR 229 mln in the 34,000 m2 project. Work on the centre started in August and delivery is expected in the third quarter of 2009. Klepierre said its expects net rental incomem of roughly EUR 14 mln, adding that this was a conservative estimate of total income from the centre.
Flepierre said it had gained full ownership of peer company Segece, after buying AXA REIM’s a 10% stake and BNP Paribas’15% holding in the company for a total of EUR 50 mln. The deal values Segece at EUR 200 mln.
