French retail group Casino has sold a portfolio of 25 properties to its majority-controlled property arm Mercialys for EUR 334 mln. The portfolio consists of 25 assets to be completed during 2009 and 2010, and comprises four distinct asset classes: three shopping centers in Besançon and Arles, which are already let and will be completed in the first half of 2009; seven extensions of shopping centres in advanced development stage; 10 hypermarkets which Mercialys will transform into shopping centres and five hypermarkets and supermarkets located in urban areas. The assets generate an annual rental income of EUR 23.9 mln.
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