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Altarea SCA (Altarea Cogedim) and Allianz SE's Allianz Real Estate establish shopping center partnership


Tuesday, 3 Dec 2013 11:47am EST 

Altarea SCA (Altarea Cogedim):Says it agreed with Allianz SE's Allianz Real Estate to establish a long-term partnership on five core shopping center properties in France owned and managed by Altarea Cogedim.Says the portfolio includes Bercy Village, Toulouse Gramont, the Gare de l'Est boutiques, Espace Chanteraines in Gennevilliers, as well as the Toulon - La Valette development project.Says portfolio represents a total asset value of more than 800 million euros.Says the partnership is structured with German insurance companies in the Allianz Group taking a 49% minority stake in the companies that own the properties, representing a total investment of 395 million euros.Says Altarea Cogedim maintains control and management of the properties in the portfolio.Says the Altarea Cogedim Group was advised in this transaction by Morgan Stanley, the law firm De Pardieu Brocas Maffei and the notaries Cheuvreux.Says Allianz was advised by King & Spalding, Freshfields, KPMG and Cushman & Wakefield. 

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126.15
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15 Aug 2014