Rallye' s Fonciere Euris and the Apsys Group have reached an agreement with bank Locindus, part of the Credit Foncier Group, to refinance the Ruban Blue shopping centre in Saint Nazaire, Western France, through a financial lease with a purchase option.
Rallye' s Fonciere Euris and the Apsys Group have reached an agreement with bank Locindus, part of the Credit Foncier Group, to refinance the Ruban Blue shopping centre in Saint Nazaire, Western France, through a financial lease with a purchase option.
‘After the sale of the Fleur D’Eau mall in Angers, this new operation allows Apsys and Rallye to make available further financial resources at the same time holding the upside potential of the site thanks to the purchase option,’ the sellers said in a statement.
Opened in May 2008, the shopping centre provides 18,000 m2 of gross lettable space leased to a number of tenants including H&M, Zara, and Go Sport.
The two partners were advised by Close Brothers and Natixis Finance, as well as law firms l’Étude Cheuvreux and De Pardieu Brocas Maffei. Allez & Associés advised the bank.
In a separate statement, Rallye said that it has sold over 50% of its stake in French listed property company Mercialys. The group has sold 3.7 million shares in the market for a total amount of EUR 89 mln. Following the disposal, Rallye holds 3.1 million shares, valued at EUR 80 mln.
