Klépierre sells Dutch retail portfolio for €730m
Klépierre SA has sold a portfolio of nine shopping centers in the Netherlands to Wereldhave for €730 million ($818 million). The portfolio includes district shopping centers mostly located in cities outside of the Randstad region, representing a total of approximately 2.5 million square feet and an estimated annual net rental income contribution of €44 million ($49.3 million) on a group share basis.The transaction is not subject to any financing conditions and is expected to close at the end of the third quarter 2015. Klépierre’s largest shareholders are Simon Property Group (20.3 percent), APG (13.5 percent) and BNP Paribas (6.6 percent). The sale follows Klépierre’s merger with Dutch group Corio for €7.2 billion ($5.7 billion). Klepierre will expand by adding Corio’s operations in France, Germany, Italy, the Netherlands, Portugal, Spain and Turkey.