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Carmila Buys 3 Shopping Centres In Spain For €77M

6 September 2016 – Expansión

Carmila – Carrefour’s real estate subsidiary – has acquired three shopping centres from Hispania Retail Properties for €77 million and has thereby increased the number of assets that it owns in Spain to 69.

Specifically, the company has acquired El Mirador in the province of Burgos, which has a surface area of 9,104 sqm and 3.5 million visitors per year; Montigalà in Badalona, which has a surface area of 10,668 sqm and 3.5 million visitors per year, and Atalayas in the centre of Murcia, which has a surface area of 10,024 sqm and five million visitors per year.

Meanwhile, the company has acquired fourteen stores in the Pince-Vent shopping centre in Ormesson (France) from the company Meyer Bergman. As a result of that transaction, the company has completed its acquisition of the entire shopping centre, which receives 5.1 million visitors each year.

Carmila, which is owned jointly by Carrefour (42%) and several large institutional investors (58%), invests in shopping centres that are adjacent to its Carrefour hypermarkets in Spain, France and Italy.

The Chairman of Carmila, Jacques Ehrmann, explained that with these operations, the Group has increased the value of its asset portfolio to €4,600 million. “The group is maintaining its value creation strategy thanks to a total portfolio of project investment amounting to €1,200 million and the development of innovation projects for the benefit of traders”, said Ehrmann.

Original story: Expansión (by R. Arroyo)

Translation: Carmel Drake

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