France's Klepierre has acquired stakes in several large malls in France for a total investment of EUR 109.6 mln. The leading shopping centre manager in continental Europe said it has signed a memorandum of agreement to take full equity ownership of the Progest group owned by Henry Hermand, as well as financial interests in several real estate companies spread across 13 sites located in or near downtown areas of major French cities.
France's Klepierre has acquired stakes in several large malls in France for a total investment of EUR 109.6 mln. The leading shopping centre manager in continental Europe said it has signed a memorandum of agreement to take full equity ownership of the Progest group owned by Henry Hermand, as well as financial interests in several real estate companies spread across 13 sites located in or near downtown areas of major French cities.
The assets have a total lettable area of 88,000 m2 and the agreement also relates to four parcels of land. The largest of which is in Forbach where a 42,000 m2 retail park will be built next to a shopping centre and a hypermarket.
