Altarea Cogedim signed an agreement with an entity held by Orion European Real Estate Fund III CV, a fund managed by Orion Capital Managers. Altarea Cogedim Group now owns 100% of the Qwartz regional shopping center located in the Département des Hauts-de-Seine (Paris Greater Area). The transaction was carried out based on a 100% market valuation of approximately €400 mln.
Qwartz was created following more than 10 years of thought and planning. With its singular positioning combining of brick-and-mortar and digital retail, the center effectively embodies shopping center revitalization. Featuring a multitude of innovative concepts specifically developed for Qwartz, the regional shopping center located in the Département des Hauts-de-Seine offers customers a unique range of products and services for a new kind of shopping experience.
An exceptional showcase for retailers, Qwartz has been taken up at 100%. Its 165 national and international retailers spanning a surface area of 925,750 ft² (86,000 m²) include a Carrefour hypermarket featuring the latest digital innovations developed to facilitate customers’ purchasing itinerary, and 15 mid-sized stores including the brand new duo of Marks & Spencer and Primark, each covering 53,750 ft² (5,000 m²).
Source: Altarea Cogedim