Klépierre subsidiary Steen & Strøm completes sale of its stakes in two shopping centers in Norway and Sweden

Paris, 2016-Nov-09 — /EPR Retail News/ — Klépierre today (November 7, 2016) announces that Steen & Strøm, its 56.1%-controlled subsidiary, has completed the sale of its stakes in two shopping centers: 49.9% of Åsane Storsenter in Bergen, Norway (49,604 sq.m.) and 100% of Torp Köpcentrum1 in Uddevalla, Sweden (31,600 sq.m.) for a total consideration of 235 million euros2 excluding transfer duties. On a group share basis for Klépierre, proceeds from the disposals amount to 132 million euros.

The two centers were acquired by the Olav Thon Group, one of Scandinavia’s largest private property owners.

For the first 9 months of 2016, Torp Köpcentrum contributed 4.9 million euros to net rental income for Klépierre on a total share basis. Åsane Storsenter was consolidated under the equity accounting method and contributed 3.9 million euros to net rental income for the same period.

These disposals are in line with Klépierre’s asset rotation strategy for optimizing its portfolio. To date in 2016, 437 million euros worth of assets have been sold and 41 million euros are under sale and purchase promissory agreements.

The transaction also releases additional financial capacity for Steen & Strøm to fund the development projects in its pipeline and potential targeted acquisitions in Scandinavia.

ABOUT KLÉPIERRE

A leading pure play shopping center property company in Europe, Klépierre combines development, rental, property and asset management skills. The company’s portfolio is valued at EUR 22.6 billion at June 30, 2016 and comprises large shopping centers in 16 countries in Continental Europe which altogether welcome 1.2 billion visitors per year. Klépierre holds a controlling stake in Steen & Strøm (56.1%), Scandinavia’s number one shopping center owner and manager. Klépierre is a French REIT (SIIC) listed on Euronext Paris and included in the CAC 40, EPRA Euro Zone and GPR 250 indexes. It is also included in ethical indexes, such as DJSI World and Europe, FTSE4Good, STOXX® Global ESG Leaders, Euronext Vigeo France 20 and World 120, and Euronext Low Carbon 100 Europe, and is ranked as a Green Star by GRESB (Global Real Estate Sustainability Benchmark). These distinctions underscore the Group’s commitment to a proactive sustainable development policy. For more information: www.klepierre.com

AGENDA:

February 6, 2017 Full year earnings (press release after market close)

INVESTOR RELATIONS CONTACTS:
Vanessa FRICANO
+ 33 (0)1 40 67 52 24
vanessa.fricano@klepierre.com

Julien ROUCH
+33 (0)1 40 67 53 08
julien.rouch@klepierre.com

Hubert D’AILLIERES
+33 (0)1 40 67 51 37
hubert.daillieres@klepierre.com

MEDIA CONTACTS:
Lorie LICHTLEN
Burson-Marsteller i&e
+33 (0)1 56 03 13 01
lorie.lichtlen@bm.com

Camille PETIT
Burson-Marsteller i&e
+33 (0)1 56 03 12 98
camille.petit@bm.com

This press release is available on Klépierre’s website: www.klepierre.com

Source: Klépierre

Klépierre and Steen & Strøm achieved Global Real Estate Sustainability Benchmark “Green Star” status

PARIS, 2014-9-22— /EPR Retail News/ — The sustainability performances of Klépierre and Steen & Strøm recognized by the Global Real Estate Sustainability Benchmark (GRESB¹) and by RobecoSAM.²

Klépierre and Steen & Strøm have just achieved GRESB “Green Star” status. Steen & Strøm topped the list of global shopping center operators, becoming Sector Leader, while Klépierre is ranked 4th in this sector in Europe.

Klépierre has also improved its RobecoSAM score by 30% in two years. With a global score of 82/100, Klépierre is once again among the companies listed in the DJSI World and Europe indexes. Out of 120 commercial real estate players worldwide, Klépierre’s performance was ranked second in terms of
environmental actions.

These impressive results reflect and validate the targeted actions undertaken by the Group in recent years, which include:

  • A clear and ambitious redefinition of its priorities via a materiality analysis
  • The adoption of a demanding environmental management system that collects data and tracks the performance of all its shopping centers in more than 140 areas.
  • More than 1.2 million square meters have earned environmental certification/labels
  • More than 50% of its real estate holdings are equipped with automated, real time meters for tracking energy consumption.

The Group’s scores in 2014 attest to the high level of involvement on the part of Management and all employees, as well as the relevance of its strategy in light of the criteria established by the global, benchmark-setting experts.

ABOUT

Klépierre

A leading shopping center property company in Europe, Klépierre combines development, rental, property and asset management skills.

Its portfolio is valued at 14.0 billion euros on June 30, 2014 and essentially comprises large shopping centers in 13 countries of Continental Europe. Klépierre holds a controlling stake in Steen & Strøm (56.1%), Scandinavia’s number one shopping center owner and manager.

Klépierre’s largest shareholders are Simon Property Group (28.9%), world leader in the shopping center industry, and BNP Paribas (21.3%).

Klépierre is a French REIT (SIIC) listed on Euronext ParisTM and is included into the SBF 80, EPRA Euro Zone and GPR 250 indexes. Klépierre is also included in several ethical indexes –DJSI World and Europe, FTSE4Good, STOXX®Global ESG Leaders, Euronext Vigeo France 20 and Eurozone 120 – and is a member of both Ethibel Excellence and Ethibel Pioneer investment registers. Klépierre is also ranked as a Green Star by GRESB (Global Real Estate Sustainability Benchmark). These distinctions mark the Group’s commitment to a voluntary sustainable development policy.

For more information, visit our website: www.klepierre.com

Steen & Strøm
Steen & Strøm is the leading developer, owner and manager of integrated shopping centers in Scandinavia. It owns 42 shopping centers in Norway, in Sweden and in Denmark. Steen & Strøm’s main shareholders are Klépierre (56.1%) and ABP Pension Fund.

For more information, visit the website: www.steenstrom.com

CONTACTS
Agence Influences
Souad Djouahra – 01 44 82 67 08 – s.djouahra@agence-influences.fr
Marie-Ange Pyrmée – 01 44 82 74 65 – ma.pyrmee@agence-influences.fr

¹ GRESB is the key benchmark for assessing the environmental performance of real estate portfolios. In 2014, it assessed the sustainability performance of 637 businesses worldwide, including more than 300 in Europe.
² Founded in 1995, RobecoSAM is a specialist in Sustainability Investing. Yearly, it assesses the extra-financial performance of more than 3,000 companies. The Dow Jones Sustainability Indexes (DJSI), calculated in partnership with the Dow Jones group, lists the top companies in each sector.