M&A Activity • Jun 15, 2011
M&A Activity
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Altarea Cogedim has signed a purchase agreement with Icade to buy a 28,500 sqm retail park in Nîmes adjacent to Carré Sud and Cap Costières. Located on a prime site, this project will accommodate around 15 small units, restaurants and medium-sized stores alongside Boulanger and Décathlon. Permits have already been received (CDAC business permit, building permit) and work is due to commence in the fourth quarter, with delivery slated for year-end 2012. The shopping centre is due to open in 2013.
The retail park will thus be part of a shopping complex with regional aspirations and thus dovetails perfectly with Altarea Cogedim's strategy of large regional retail developments. It is expected to adopt the Family Village® concept of out-of-town retail developments offering shoppers mass-market chains and a high-quality environmental and architectural setting.
Altarea Cogedim is a leading property investment and development company and is the only group active in all three main property markets: retail, office, and residential. It has the skills and experience to effectively design, develop, sell, and manage customised property assets in each of these markets.The company's risk exposure is aligned with its long-term vision, and it creates value by designing and building attractive assets and by seizing profitable opportunities in the property sector. Altarea Cogedim operates in France and Italy and manages a property portfolio worth €2.6 billion. The company has a market capitalisation of €1.5 billion and is listed in Compartment A of NYSE Euronext Paris.
Nathalie Bardin Valérie Jardat Head of Corporate Communications Agence Côté Jardat [email protected] [email protected]
+33 156 26 25 36 / +33 685 26 15 29 + 33 141 05 94 10 /+33 612 05 18 35
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