M&A Activity • Mar 20, 2015
M&A Activity
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Paris, March 20, 2015
Altarea Cogedim has just signed an agreement with an entity held by Orion European Real Estate Fund III CV, a fund managed by Orion Capital Managers. Altarea Cogedim Group now owns 100% of the Qwartz regional shopping center located in the Département des Hauts-de-Seine (Paris Greater Area). The transaction was carried out based on a 100% market valuation of approximately €400 million.
Qwartz was created following more than 10 years of thought and planning. With its singular positioning combining of brick-and-mortar and digital retail, the center effectively embodies shopping center revitalization. Featuring a multitude of innovative concepts specifically developed for Qwartz, the regional shopping center located in the Département des Hauts-de-Seine offers customers a unique range of products and services for a new kind of shopping experience.
An exceptional showcase for retailers, Qwartz has been taken up at 100%. Its 165 national and international retailers spanning a surface area of 925,750 ft² (86,000 m 2 ) include a Carrefour hypermarket featuring the latest digital innovations developed to facilitate customers' purchasing itinerary, and 15 mid-sized stores including the brand new duo of Marks & Spencer and Primark, each covering 53,750 ft² (5,000 m²).
Since it opened less than a year ago, the shopping center's unique positioning has been recognized on several occasions: Qwartz won a MAPIC Award for the category of "Most Innovative Shopping Center," as well as the "Janus du Commerce" label in the fall of 2014. The center was also awarded the Prize for the Most Connected Catchment Areas at the first annual Nuit du Commerce Connectée, organized by Retail Networks.
Footfall at Qwartz is expected to exceed 7 million visitors in its first year, with a long-term goal of 9 million visitors.
Altarea Cogedim is a leading property group. As both a commercial landowner and developer, it operates in all three classes of property assets: retail, residential and offices. It has the know-how in each sector required to design, develop, commercialize and manage made-to-measure property products. With operations in France, Spain and Italy, Altarea Cogedim manages a shopping center portfolio of €4 billion and ranks among the leading e-commerce sites in France thanks to its subsidiary, Rue du Commerce. Listed in compartment A of the NYSE Euronext Paris, Altarea had a market capitalization of €1.6 billion at December 31, 2014.
@altareacogedim. - www.altareacogedim.com
Guylaine Mercier Head of Group Communications +33 1 56 26 25 36 [email protected]
Valérie Jardat Press Relations +33 1 41 05 94 10 / +33 6 12 05 18 35 [email protected]
Nicolas Castex Press Relations +33 1 53 32 78 88 [email protected]
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