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Tour Eiffel (Société de la) — M&A Activity 2022
Feb 21, 2022
1712_iss_2022-02-21_554949a9-cf9e-4b0d-bd13-4673e497cde1.pdf
M&A Activity
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Société de la Tour Eiffel announces the sale of the Marché Vaugirard shopping centre to Société des Grands Magasins
Société de la Tour Eiffel announces the sale of the Marché Vaugirard to Société des Grands Magasins, a specialist in acquiring and redeveloping city-centre retail assets. The shopping centre, acquired in 2017, is located in Paris's 15th arrondissement.
The sale concerns 2,210 m² of floorspace, split between 25 shops on 2 floors, plus 87 parking spaces.
"This sale marks the end of Société de la Tour Eiffel's asset disposal plan launched in 2019. The Marché Vaugirard deal, following the sale of Nîmes Sept Collines, is the culmination of a long collective effort by the Société de la Tour Eiffel teams." said Christel Zordan, Chief Executive Officer of Société de la Tour Eiffel.
"We are delighted to announce the acquisition of Marché Vaugirard, a city-centre site with a healthy customer base of locals and office workers and an ideal place to apply our regeneration know-how. We will be working with the tenants to make it an even more attractive, modern shopping centre, that can match shoppers' expectations and be a lively hub for the whole community", said Frédéric Merlin, Chairman of Société des Grands Magasins.
Deal advisors: ROC Notaires, Alcaix (Notaries) / Up Real Estate, EOL, CBRE (Brokers)
Contacts
Media relations Laetitia Baudon – Consulting director Agence Shan Tel. + 33 (0)1 44 50 58 79 [email protected]
Investor Relations Aliénor Kuentz – Account director Agence Shan Tel. + 33 (0)1 42 86 82 45 [email protected]
For Société des Grands Magasins Press contact: François Cathalifaud Tel. +33 (0)6 62 15 50 03 [email protected]
About Société de la Tour Eiffel
Société de la Tour Eiffel is an integrated commercial real estate company with €1.8 bn in assets and a powerful service culture. It operates across the real estate cycle, supporting companies of all sizes and sectors, and directly manages assets in high-potential regions via a rigorous management process
Société de la Tour Eiffel is listed on NYSE Euronext Paris (Compartment B) – ISIN Code: FR0000036816 – Reuters: TEIF.PA – Bloomberg: EIFF.FP – Indexes: IEIF Foncières, IEIF Immobilier France.
www.societetoureiffel.com
About Société des Grands Magasins
Société des Grands Magasins is a family firm created in 2018 with the ambition of helping to revive city centres, notably in mid-sized towns, by taking over, redeveloping and reinvigorating existing sites. It currently has 9 high street shopping centres in operation and has struck a deal to take over 7 Galeries Lafayette stores.
www.societedesgrandsmagasins.com