• Transaction / Assets
    6 shopping centres
  • Seller
    Pradera European Retail
  • Buyer
    Carmila
  • € MM
    182

Carrefour’s RE Subsidary Acquires 6 Shopping Centres for €182M

4 May 2018 – El Economista

Carmila, the real estate subsidiary of Carrefour, has acquired six shopping centres next to its hypermarkets in Spain from the fund Pradera European Retail, for a total consideration of €182 million and with an average yield of 6.3%, according to a statement issued by the French company on Friday.

Through these new acquisitions, the group plans to renew these spaces with the aim of revitalising them towards a family concept to optimise occupancy rates and strengthen their activity with the deployment of digital marketing tools, such as websites, databases and service kiosks.

The company’s new assets, which have been financed through bond debt amounting to €350 million issued in February, are located in Córdoba, Cádiz, Sevilla, Alicante and in Barcelona, where it has acquired two shopping centres.

At the end of last year, Carmila’s total portfolio comprised 206 shopping centres, located in France, Spain and Italy, worth €5.8 billion in total. The company, which is listed on the Euronext stock exchange in Paris, will hold its General Shareholders’ Meeting on 16 May and will present its half-year results on 27 July.

Original story: El Economista

Translation: Carmel Drake

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