Rodamco Europe expands its ownership in Parly 2, France (FR)

Rodamco Europe N.V. reinforces its presence in France by purchasing an additional 13,630 square meters of retail space located in the shopping centre Parly 2 (Le Chesnay - Yvelines), France. The asset is bought from SCI Parly Hausmann for an amount of €27 million with a yield of 6.13%.

With this acquisition, Rodamco Europe has increased its ownership from 46.95% to 68.63% of the original part of Parly 2, Tranche A7, comprising a total of 64,287 m² of gross lettable area.

The acquisition follows a continuing expansion of Rodamco Europe´s ownership in Parly 2 and is in line with Rodamco Europe´s strategy to focus on top quality retail in dominant locations in its key markets.

The French property portfolio, valued over €1.2 billion, comprises nine shopping centres (five in the greater-Paris region - Parly 2, Velizy 2, les Ulis 2, Bobigny 2 and Côté Seine). Additionally, 7 % of the French portfolio consists of offices and industrial properties.

Parly 2 is a super regional shopping centre of 87,000 m² in a dominant location in the western part of Paris, where it benefits from a wealthy trade area and a high sales/m² ratio. The shopping centre has 20 million visitors per year. Main tenant is SCI France Printemps (the Pinault Printemps La Redoute Group).

Source: Rodamco Europe

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