UNIBAIL-RODAMCO SE enters into an agreement with Allianz to dispose of the Nicétoile shopping centre (Nice, France)
(Thomson Reuters ONE) -
Paris, Amsterdam, November 9, 2014
Press Release
Unibail-Rodamco SE enters into an agreement with Allianz to dispose of the
Nicétoile shopping centre (Nice, France)
Unibail-Rodamco announces that it has entered into an agreement with Allianz to
dispose of the Group's stake in the Nicétoile (Nice, France) property complex.
The Group's stake is comprised of 15,389 m² GLA of retail, 2,018 m² GLA of
offices and 1,852 parking lots. Footfall in the last 12 months totalled 13.1 Mn
visits. The total acquisition cost amounts to ?312.5 Mn[1], representing a net
initial yield[2] of 5.0%.
The shopping centre will be managed by Hammerson who will co-invest 10% with
Allianz.
Closing of the transaction is expected to occur during the first quarter of
2015 and is subject to customary conditions precedent.
"With the announcement of this transaction, Unibail-Rodamco largely completes
the streamlining of its French shopping centre portfolio announced earlier this
year. The Group is pleased to have been able to reach agreements to dispose of
its non-core assets in France within a 9-month period, rather than the 5 years
envisioned at the time of the announcement of the disposal programme."
Christophe Cuvillier, CEO and Chairman of the Management Board.
For further information, please contact:
Investor Relations
Julie Coulot
+33 1 76 77 57 22
Media Relations
Pauline Duclos-Lenoir
+33 1 76 77 57 94
About Unibail-Rodamco
Created in 1968, Unibail-Rodamco SE is Europe's largest listed commercial
property company, with a presence in 12 EU countries, and a portfolio of assets
valued at ?33.6 billion as of June 30, 2014. As an integrated operator, investor
and developer, the Group covers the whole of the real estate value creation
chain. With the support of its 1,550 professionals, Unibail-Rodamco applies
those skills to highly specialised market segments such as large shopping
centres in major European cities and large offices and convention & exhibition
centres in the Paris region.
The Group distinguishes itself through its focus on the highest architectural,
city planning and environmental standards. Its long term approach and
sustainable vision focuses on the development or redevelopment of outstanding
places to shop, work and relax. Its commitment to environmental, economic and
social sustainability has been recognised by inclusion in the DJSI (World and
Europe), FTSE4Good and STOXX Global ESG Leaders indexes.
The Group is a member of the CAC 40, AEX 25 and EuroSTOXX 50 indices. It
benefits from an A rating from Standard & Poor's and Fitch Ratings.
For more information, please visit our website: www.unibail-rodamco.com
--------------------------------------------------------------------------------
[1] Including transfer taxes and transaction costs.
[2] Annualised asset income (including latest indexation) net of expenses,
divided by the asset value.
UR_PR_ENG_Nice_20141109:
http://hugin.info/136618/R/1870034/657601.pdf
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Source: UNIBAIL-RODAMCO SE via GlobeNewswire
[HUG#1870034]
Unternehmensinformation / Kurzprofil:
Datum: 09.11.2014 - 18:01 Uhr
Sprache: Deutsch
News-ID 350931
Anzahl Zeichen: 4156
contact information:
Town:
PARIS Cedex 16
Kategorie:
Business News
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