29 August 2017 – Expansión
Carmila, Carrefour’s real estate subsidiary, has closed the first half of the year having signed 213 commercial operations in Spain, according to a statement issued by the company.
Specifically, the company led by Sebastián Palacios signed 91 new rental operations during H1, corresponding to an increase in the gross leasable area of more than 10,000 m2.
In addition, Carmila signed 122 rental contract renewals with operators that decided to continue their agreements with the company, covering another approximately 10,000 m2 in terms of surface area.
By retail sector, the largest volume of space secured was recorded in the restaurant segment, with 13 new contracts. Specifically, brands such as Burger King, Gino’s, Lizarrán and La Tagliatella signed up to join Carmila’s centres.
That segment was followed by the fashion sector, with the signing of new contracts with brands such as Zara, Bershka and Free Base.
For the second half of the year, Carmila forecasts “very favourable” results, not only in terms of new contracts but also renewals.
In this sense, during the second half of the year, the company will launch the renewal of the rental contracts for eight shopping centres, including the Los Patios Shopping Centre in Málaga.
Carmila was constituted in April 2014 by Carrefour, which controls 42% of its capital, with the aim of obtaining value from the shopping centres located next to its hypermarkets. The other shares in the company are held by large institutional investors.
According to the latest published data, Carmila owns 70 assets in Spain worth €1,100 million.
Original story: Expansión (by R. Arroyo)
Translation: Carmel Drake