Galimmo pursues its development strategy
through the acquisition of a shopping centre
in Creil Saint-Maximin (Oise)
Deal worth €39.5 million (including transfer taxes)
Shopping centre adjoining a Cora hypermarket
First Galimmo acquisition since its creation in 2016
Paris, 17 December 2018 - Galimmo SCA, a Galimmo Real Estate company, specialist in retail real estate and shopping centres value-enhancement, today announces the signing of a promissory sales agreement with Klépierre to acquire a shopping centre in Creil Saint-Maximin (Oise region of France) for €39.5 million (transfer taxes included).
Maël Aoustin, CEO of the group, comments: "This acquisition is a further stage in the group development since its creation two years ago. Having delivered two major projects in 2018 - the extension/renovation of the Evian-Publier and Colmar-Houssen shopping centres - we continue to roll out our strategy by reinforcing our portfolio in France through this first acquisition of a retail asset with great potential."
In the heart of the powerful Saint-Maximin retail destination and close to the city of Creil, the site comprises a shopping centre with 40 retailers and 4,069 m² GLA anchored by a Cora hypermarket. The shopping centre combines a large retail offer (fashion, cosmetics, sports) with facilities and services for customers' everyday needs (pharmacy, food and services). The entire site, including the hypermarket and cafeteria, both Cora properties/owned, covers a total area of 19,234 m².
This acquisition strengthens Galimmo's portfolio of assets with great potential. The shopping centre will benefit from the value-enhancement strategy of the group, through a dynamic asset management and investment policy. Once the acquisition completed, development projects already identified on the Creil Saint-Maximin shopping centre will be added to Galimmo's pipeline.
The deal is financed by a bank loan and equity.
Galimmo SCA was advised on this transaction by the business law firm De Pardieu Brocas Maffei as well as by the notary firm Oudot et associés.
About Galimmo SCA
A property company since September 2016, Galimmo SCA (ISIN: FR0000030611) is listed on the B compartment of Euronext Paris. It specialises in retail property and is dedicated to the value-enhancement and management of shopping centres adjoining Cora hypermarkets. Its portfolio - worth €619.1 million (excluding transfer taxes) at 30 June 2018 - consists of 51 shopping malls in France. Galimmo SCA also holds a 15% stake in a group owning seven shopping malls in Belgium. Galimmo SCA is a partnership limited by shares ("société en commandite par actions") managed by Galimmo Services France, a wholly-owned subsidiary of Galimmo Real Estate.
For more information about the company
About Galimmo Real Estate
Galimmo Real Estate, a Belgian registered company, is a property company specialising in retail property and the value-enhancement of shopping centres of Europe. Via its subsidiaries organised by country, Galimmo Real Estate operates a total of 65 shopping centres adjoining Cora hypermarkets in Belgium, France, Luxembourg and Romania, representing a value of €1.1 billion (excluding transfer taxes) as at 30 June 2018. In Belgium, Galimmo Real Estate holds an 85% controlling stake in a group of companies owning a total of seven shopping malls. The remaining 15% is owned by property company Galimmo SCA.
For more information about the company
| Investor contact Angélique Cristofari General Secretary Tel: + 33 1 53 93 06 98 acristofari@galimmo.com | Press contacts Isabelle Laurent Tel: +33 1 53 32 61 51 / +33 6 42 37 54 17 isabelle.laurent@ddbfinancial.fr Aurélie Chambon Tel: +33 1 53 32 56 88 / +33 6 82 70 15 58 aurelie.chambon@omnicomprgroup.com |
The company's announcements and financial publications are available on the website www.galimmo-sca.com
