Galimmo swoops on French shopping centre for €39.5m

French retail specialist Galimmo has acquired a shopping centre in Creil Saint-Maximin in France from Klépierre for €39.5 mln.

'This acquisition is a further stage in the group development since its creation two years ago,' said Maël Aoustin, group CEO.

'Having delivered two major projects in 2018 - the extension/renovation of the Evian-Publier and Colmar-Houssen shopping centres - we continue to roll out our strategy by reinforcing our portfolio in France through this first acquisition of a retail asset with great potential,' Aoustin added.

Located close to the city of Creil, the site comprises a shopping centre with 40 retailers and 4,069 m2 GLA anchored by a Cora hypermarket. According to Galimmo, the shopping centre combines a large retail offer with facilities and daily needs services. The entire site comprises 19,234 m2. The hypermarket and cafeteria are owned and operated by Cora.

The deal is being financed via a bank loan and equity.

Galimmo SCA was advised on the transaction by law firm De Pardieu Brocas Maffei and by notary Oudot et associés.


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