US investor Thor Equities is close to concluding an agreement for the sale of its luxury retail asset at 65 Boulevard de la Croisette in Cannes, France, for €120 mln.
A Thor Equities spokesman confirmed that the company has exchanged contracts with Castello Köln Beteiligung, but the deal has not yet officially closed, he said.
The property includes a total of eight individual retail stores currently leased to luxury retailers such as Bottega Veneta, Balenciaga, Brioni, Burberry and Yves Saint Laurent.
