The Mission :
As part of the launch of an arbitration process of several non-strategical assets in 2010, Altarea Cogedim proposed to the market this downtown shopping arcade, opened in 2002, with 13,794 m² GLA and 405 parking spaces. This modern shopping gallery includes a Casino and restaurant, a multiplex of seven movie theaters, as well as 21 shops, including Darty, Sport 2000, La Grande Recre, Nocibe, Jennyfer, Celio, Pimkie, Yves Rocher… Draco Partners was asked to propose this to its investor clients.
The Solution :
Draco Partners targeted a small number of French and foreign institutional investors whose investment criteria seemed compatible with the characteristics of size and location of the asset.
The Result :
Draco Partners introduced the proposal to Groupe Crédit Mutuel Arkéa, and advised them during the whole process leading to the acquisition in 2011 for € 38 million of this CORE commercial asset. The building was acquired by Suravenir, Arkea’s life insurance subsidiary.
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