M&A Activity • Feb 7, 2012
M&A Activity
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ALTAREA COGEDIM sells the shopping center « La Cour des Capucins » to M&G's European Property Fund, represented and advised by PRUPIM and DTZ Asset Management.
Located in the very heart of Thionville, close to Luxembourg, the asset was delivered in August 2011. The scheme offers circa 8,600 sqm of gross lettable area and consists of 40 shops including Carrefour Market and Espace Culturel Leclerc. In addition it offers 400 parking units.
ALTAREA will retain the management of the asset on behalf of M&G. The asset was sold for an amount close to €31.2 mln.
The vendor was advised by SCP Clerc Beuriot Leroy Jubault and Easton Corporate Finance. Monassier et Associés and Hogan Lovells were respectively the notary and the legal adviser of the buyer.
Altarea Cogedim is a leading property group. As both a retail property investor and a developer, it is the only group active in all three principal segments of the property market, i.e. retail, residential and office, in which it boasts the expertise to design, develop, let and manage customised property products. With risk exposure tailored to its long-term vision, the Group's approach to value creation is predicated on the design and construction of its products, enabling it to seize the best opportunities in the real estate sector.
With operations in France and Italy, Altarea Cogedim had an asset portfolio worth €2.7 billion at 30 June 2011. Altarea is listed in Compartment A of NYSE Euronext Paris with a market capitalization of €1.2 billion at end-November 2011.
Press contacts: Nathalie Bardin Valérie Jardat Head of Communications Côté Jardat [email protected] [email protected]
T: +33 1 56 26 25 36 / 33 6 85 26 15 29 T: + 33 1 41 05 94 10 / 33 6 12 05 18 35
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