There’s been confirmation of a deal that CIJ reported was coming up in the January issue. Unibail-Rodamco has acquired the European portfolio of Simon Ivanhoe at a price of €715m. Simon Ivanhoe is a joint venture of Simon Property Group and Ivanhoe Cambridge.
The portfolio consists of six existing shopping centers in Poland and France, including Warsaw’s biggest mall, Arkadia, its retail area exceeding 100,000 sqm.
Unibail-Rodamco also entered into a 50-50 joint-venture agreement with Simon Ivanhoe in which Unibail-Rodamco will develop five retail projects in France. Click the link to see Unibail-Rodamco’s press release on the deal.