Altarea Cogedim buys French mall from Orion for €400m
Altarea Cogedim has purchased the remaining 50 percent stake in a French mall from an entity held by Orion European Real Estate Fund III, a fund managed by Orion Capital Managers.
Altarea now owns a 100 percent stake in the Qwartz regional shopping center located in Hauts-de-Seine, part of the greater Paris area. The transaction was carried out based on a property valuation of approximately €400 million ($437 million).
Qwartz is 100 percent leased to 165 national and international retailers spanning a surface area of 925,750 square feet, and 15 mid-sized stores including Marks & Spencer and Primark, each covering 53,750 square feet.
Recently, Orion has been active buying and selling retail assets across Europe.
In the United Kingdom, Orion Capital Managers acquired a