PARIS, May 02, 2022--(BUSINESS WIRE)--Regulatory News:
On April 27, 2022, Mercialys (Paris:MERY) finalized the sale of the Géant Casino Annecy Seynod and Saint-Etienne Monthieu hypermarkets, for a combined total including transfer taxes of nearly Euro 65 million, to Inter Gestion REIM, operating on behalf of SCPI Cristal Rente, its specialist retail property company.
These large food stores, acquired in 2014 and 2015, had seen their surface areas scaled back significantly in the last few years, in coordination with their operator Géant, making it possible to set up units with national retailers that are popular with consumers, contributing to the shopping centers’ appeal. These restructuring operations were part of the ongoing redevelopment of these two sites, illustrating the Company’s value creation strategy.
For instance, Mercialys opened the Annecy area’s first Action store in 2019, in the hypermarket’s scaled-back spaces, after carrying out major developments at this site since 2017, including the creation of a food court and the opening of a Décathlon store. The Annecy Seynod shopping center will also see its offering further strengthened with a nine-screen Mégarama multiplex cinema to open in December this year.
Alongside this, Mercialys welcomed the retailers FNAC and New Yorker in the space freed up by the Saint-Etienne Monthieu hypermarket in 2017, as part of a project to modernize and restructure this shopping center, enabling 23 new stores to be opened.
On this operation, Mercialys was supported by the notary’s office LBMB, while the buyer, Inter Gestion REIM on behalf of SCPI CRISTAL RENTE, was supported by the notaries DDA. Jones Lang Lasalle and Arthur Loyd were also advisors on this transaction.
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This press release is available on www.mercialys.com.
Mercialys is one of France’s leading real estate companies. It is specialized in the holding, management and transformation of retail spaces, anticipating consumer trends, on its own behalf and for third parties. At December 31, 2021, Mercialys had a real estate portfolio valued at Euro 3.1 billion (including transfer taxes). Its portfolio of 2,134 leases represents an annualized rental base of Euro 168.8 million. Mercialys has been listed on the stock market since October 12, 2005 (ticker: MERY) and has "SIIC" real estate investment trust (REIT) tax status. Part of the SBF 120 and Euronext Paris Compartment B, it had 93,886,501 shares outstanding at December 31, 2021.
This press release contains certain forward-looking statements regarding future events, trends, projects or targets. These forward-looking statements are subject to identified and unidentified risks and uncertainties that could cause actual results to differ materially from the results anticipated in the forward-looking statements. Please refer to Mercialys’ Universal Registration Document available at www.mercialys.com for the year ended December 31, 2021 for more details regarding certain factors, risks and uncertainties that could affect Mercialys’ business. Mercialys makes no undertaking in any form to publish updates or adjustments to these forward-looking statements, nor to report new information, new future events or any other circumstances that might cause these statements to be revised.
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