Transactions - MARCH 26, 2015

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Altarea Cogedim buys French mall from Orion for €400m

by Andrea Waitrovich

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

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