Three European portfolios sell for more than €1.3b
In separate deals, two retail portfolios and one multifamily portfolio in Europe have sold for a total of €1.33 billion ($1.49 billion).
The largest portfolio was a nine-property shopping center portfolio in the Netherlands sold by Klépierre SA 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 billi