IN-DEPTH: Unibail-Rodamco sells six malls for $1.2b
Unibail-Rodamco SE has agreed to sell a portfolio of six shopping centers anchored by retailer Carrefour and located across France to Carmila, the shopping mall operator owned by Carrefour and investors. The €931 million ($1.2 billion) deal was announced last week.
The portfolio totals 2.88 million square feet. The closing of the transaction is expected to occur in fourth quarter 2014.
The highest priced and largest mall is the 785,765-square-foot Cite Europe mall in Coquelles, which is selling for approximately €254.1 million, or €314 per square foot ($340.1 million/$420 per square foot).
The second highest priced and largest mall is the 667,368-square-foot Bay 2, located in Torcy. The sales price