Publications

Transactions - OCTOBER 16, 2014

To read this full article you need to be subscribed to Newsline.

Sign in Start Your Free Trial Now View Purchase Options

Unibail-Rodamco sells another six malls for €850m

by Andrea Waitrovich

Just a couple of months after Unibail-Rodamco SE sold a portfolio of six shopping centers, another six French shopping centers have been sold for €850 million ($1.1 billion).

The new owner is the shopping center investor Wereldhave, which plans to finance part of the deal by selling shares, issuing up to €550 million ($701 million), as well as available cash of approximately €150 million ($191.3 million) and existing debt facilities.

The portfolio consists of high-quality midsized shopping centers with a net initial yield of 5.5 percent, contributing immediately to Wereldhave’s earnings. The completion of the transaction is expected by the end of 2014.

The malls include the 305,695-square-foot Rivétoile in Strasbourg, the 404,723-square-foot Docks 76 in Rouen, the 488,682-square-foot Saint Sever in Rouen, the 425,174-square-foot Meriadeck-Passages in Bordeaux, the 311,077-square-foot Côté Seine in Argenteuil an

Glossary, videos, podcasts, research in the Resource Center

Forgot your username or password?

Close your account?

Your account will be closed and all data will be permanently deleted and cannot be recovered. Are you sure?

We respect your privacy! Please give consent for processing data as described in our Privacy Policy