SHOPPING CENTRE ACQUISITION
Property giant Hammerson buys into Paris
The shopping centre owner has completed the acquisition of Cergy 3 in France’s luxury capital, Paris
Hammerson plc, the western European invested mall owner, has bought a shopping centre in France for €81m as it looks to diversify its asset base. Hammerson, one of the largest property companies on the JSE with a market cap of R76.6bn, acts as a rand hedge for South African investors. The shopping centre owner completed the acquisition of the 11,000m² shopping centre called Cergy 3 in Paris. The centre, which is connected to its existing shopping mall, Les Trois Fontaines, was bought from a private vendor. Les Trois Fontaines was established as the leading shopping destination for the Val d’Oise region and was one of Hammerson’s flagship assets in France, CEO David Atkins said.
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