Klépierre has signed an agreement for the sale of two retail malls for a total consideration of €212.2m (including transfer duties) to Carmila.
The first property, Grand Vitrolles, is located near Marseille, France, and totals 24,350 m². The mall features 80 retail units and is anchored by 20,500 m² Carrefour hypermarket. Klépierre owned 83% stake in the property, with 17% belonging to CNP.
The second property, Gran Via de Hortaleza in Madrid, Spain, is a 6,300 m² gallery with 70 retail units, anchored by 10,950 m² Carrefour hypermarket. The asset was fully owned by Klépierre.
This divestment is consistent with Klépierre’s regular asset rotation strategy. Since January 1, 2017, the company disposed of the property worth €365.3m (excluding transfer duties). The last deal brings the number to €568.1m. The closing of the transaction is expected to occur in the Q1 this year.
