Klépierre sold portfolio of nine shopping centers in the Netherlands to Wereldhave

PARIS, France, 2015-8-27— /EPR Retail News/ — Klépierre today announced it has completed the disposal of a portfolio of nine shopping centers¹ located in the Netherlands to Wereldhave. Total consideration for the transaction including transfer duties is 770 million euros² . The extension of City Plaza will be transferred later in 2015, once this development has been delivered.

As a result of the transaction, Klépierre operates a more cohesive shopping center portfolio in the Netherlands, refocused on affluent cities in the Randstad region (five assets representing a total value of 1.1 billion euros as of June 30, 2015).

The net cash proceeds to Klépierre will be mostly used to reimburse outstanding debt. The divestment has a limited dilutive impact on the 2015 net current cash flow, which has already been taken into consideration when Klépierre raised on July 29, 2015 its net current cash flow guidance for fiscal year 2015 to 2.15 euros per share.

¹ Amersfoort (Emiclaer), Arnhem (Presikhaaf), Dordrecht (Sterrenburg), Heerhugowaard (Middenwaard), Nieuwegein (Cityplaza, including extension), Rijswijk (In den Bogaard), Tilburg (Centre), Zoetermeer (Oosterheem) and Zwolle (Stadshagen).
² Total share, including transfer duties but excluding potentially applicable VAT. Consideration is 730 million euros excluding transfer duties.

Klépierre’s legal advisor in connection with the transaction described in this announcement is De Brauw Blackstone Westbroek.

ABOUT KLEPIERRE A leading shopping center property company in Europe, Klépierre combines development, rental, property, and asset management skills. Its portfolio is valued at 21.9 billion euros on June 30 2015. It comprises large shopping centers in 16 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 (20.3%), world leader in the shopping center industry, APG (13.5%) and BNP Paribas (6.6%). Klépierre is a French REIT (SIIC) listed on Euronext ParisTM and Euronext Amsterdam and is included in the CAC Next20 and CAC Large 60 indexes, the SBF 80, the EPRA Euro Zone, and the 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

AGENDA
October 29, 2015 2015 3rd quarter revenues (press release after market close)

February 9, 2016 2015 Full year earnings (press release after market close)

INVESTOR RELATIONS CONTACTS
Vanessa FRICANO – + 33 1 40 67 52 24 – vanessa.fricano@klepierre.com
Julien ROUCH – +33 1 40 67 53 08 – julien.rouch@klepierre.com

MEDIA CONTACTS
Aurélia de LAPEYROUSE – + 33 1 53 96 83 83 – adelapeyrouse@brunswickgroup.com
Nathalie BAUDON – + 33 1 53 96 83 83 – nbaudon@brunswickgroup.com

***

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

Klépierre announced conditional agreement with Wereldhave on the disposal of a portfolio of 9 shopping centers located in the Netherlands for EUR 770m

PARIS, 2015-6-25 — /EPR Retail News/ — Klépierre today announced it has reached a conditional agreement with Wereldhave on the disposal of a portfolio of nine shopping centers1 located in the Netherlands for a total consideration of 770 million euros,2 a level that is consistent with appraised values. The portfolio includes convenience and district shopping centers mostly located in cities outside of Randstad, representing a total of approximately 236,000 sq.m and an estimated annual net rental income contribution of 44 million euros3 on a group share basis.

The transaction is not subject to any financing conditions and is expected to close at the end of the third quarter of 2015, subject to customary conditions precedent, including anti-trust clearance, and completion of Klépierre and Wereldhave works council consultation processes.

Laurent Morel, Chairman of Klépierre’s Executive Board, commented: “This transaction is a clear delivery on Klépierre’s asset rotation strategy post-merger with Corio and demonstrates the liquidity and value of our portfolio. It immediately refocuses Klépierre’s Dutch portfolio on two of the most dynamic cities in the Netherlands, Rotterdam and Utrecht, which will become more attractive with the ambitious re-development of Hoog Catharijne. The disposal of this portfolio releases additional financial capacity to fund future growth in our preferred regions of Continental Europe, through the development of our quality pipeline, and selective opportunistic acquisitions of prime shopping destinations.”

Following the transaction, Klépierre’s Dutch portfolio, refocused on cities in the affluent Randstad region, will represent a total value of 1 billion euros (as of December 31, 2014). This divestment is expected to result in net cash proceeds to Klépierre of 695 million euros (group share), which would first be mostly used to reimburse outstanding debt.

Assuming it is completed as planned, the divestment is expected to have a limited impact on the net current cash flow for 2015. Accordingly, Klépierre maintains its net current cash flow per share guidance for fiscal year 2015.

1 Amersfoort (Emiclaer), Arnhem (Presikhaaf), Dordrecht (Sterrenburg), Heerhugowaard (Middenwaard), Nieuwegein (Cityplaza, including extension), Rijswijk (In den Bogaard), Tilburg (Centre), Zoetermeer (Oosterheem) and Zwolle (Stadshagen).
2 Total share, including transfer duties but excluding potentially applicable VAT. Consideration is 730 million euros excluding transfer duties.
3 Based on the 2014 full year annual net rental income contribution of these assets

Klépierre’s legal advisor in connection with the transaction described in this announcement is De Brauw Blackstone Westbroek.

ABOUT KLEPIERRE
A leading shopping center property company in Europe, Klépierre combines development, rental, property, and asset management skills. Its portfolio is valued at 21 billion euros on December 31, 2014. It comprises large shopping centers in 16 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 (20.3%), world leader in the shopping center industry, APG (13.5%) and BNP Paribas (6.6%). Klépierre is a French REIT (SIIC) listed on Euronext Paris and Euronext Amsterdam and is included in the CAC Next20 and CAC Large 60 indexes, the SBF 80, the EPRA Euro Zone, and the 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

INVESTOR RELATIONS CONTACTS

Vanessa FRICANO – + 33 1 40 67 52 24 – vanessa.fricano@klepierre.com

Julien ROUCH – +33 1 40 67 53 08 – julien.rouch@klepierre.com

MEDIA CONTACTS

Aurélia de LAPEYROUSE – + 33 1 53 96 83 83 – adelapeyrouse@brunswickgroup.com

Nathalie BAUDON – + 33 1 53 96 83 83 – nbaudon@brunswickgroup.com

***

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

 

Wereldhave offers to acquire €850M portfolio of six non-core shopping centres located in France from Unibail-Rodamco

Paris, Amsterdam, 2014-10-20— /EPR Retail News/ — Unibail-Rodamco and Wereldhave have entered today into an agreement pursuant to which Wereldhave offers to acquire a portfolio of six non-core shopping centres located in France, including:

Shopping Centre City/Region Complex

GLA (m²)

 

Unibail-Rodamco

consolidated GLA (m²)

Number of visits

in 2013 (Mn)

 

Rivétoile Strasbourg 28,400 28,400 5.8
Docks 76 Rouen 37,600 37,600 4.0
Saint Sever Rouen 45,400 34,400 9.8
Meriadeck¹-Passages Meriadeck Bordeaux 39,500 32,400 12.7

 

Côté Seine Paris region 28,900 16,200 5.8
Docks Vauban Le Havre 53,500 53,500 5.4

The total consideration² of the proposed transaction amounts to €850 Mn, representing a net initial yield³ of 5.5% and an average value per m² of €4,200/m².

Further to this agreement, Unibail-Rodamco has granted Wereldhave an exclusivity period ending on November 10, 2014, during which Unibail-Rodamco’s work council will be consulted. The signing of the final and binding documentation is expected to occur in November 2014.

Closing of the transaction is expected to occur before year end 2014 and is subject to customary conditions precedent, including regulatory approvals and Wereldhave’s shareholders approval.

“Unibail-Rodamco is pleased to have reached an agreement with Wereldhave, a party which, as a specialist in mid-sized shopping centres, will be able to manage these malls to their full potential. This transaction, part of the disposal programme of retail assets announced in February this year, will allow the Group to continue to sharpen its focus on large regional shopping centres.” Christophe Cuvillier, CEO and Chairman of the Management Board

¹ Meriadeck owned at 61% and fully consolidated (conso. GLA shown at 100%). Passages Meriadeck owned at 100%
² Asset values at 100%, including transfer taxes and transaction costs. Final consideration subject to the establishment of the completion accounts
³ Annualised portfolio contracted rent (including latest indexation and including a one-year rental guarantee) net of expenses, divided by the asset values

For further information, please contact:
Investor Relations
Pierre-Marie Battesti
+33 1 76 77 56 97
Media Relations
Pauline Duclos-Lenoir
+33 1 76 77 57 94

About Unibail-Rodamco
Created in 1968, Unibail-Rodamco SE is Europe’s largest listed commercial property company, with a presence in 12 EU countries, and a portfolio of assets valued at €33.6 billion as of June 30, 2014. As an integrated operator, investor and developer, the Group covers the whole of the real estate value creation chain. With the support of its 1,550 professionals, Unibail-Rodamco applies those skills to highly specialised market segments such as large shopping centres in major European cities and large offices and convention & exhibition centres in the Paris region.

The Group distinguishes itself through its focus on the highest architectural, city planning and environmental standards. Its long term approach and sustainable vision focuses on the development or redevelopment of outstanding places to shop, work and relax. Its commitment to environmental,
economic and social sustainability has been recognised by inclusion in the DJSI (World and Europe), FTSE4Good and STOXX Global ESG Leaders indexes.

The Group is a member of the CAC 40, AEX 25 and EuroSTOXX 50 indices. It benefits from an A rating from Standard & Poor’s and Fitch Ratings.

For more information, please visit our website: www.unibail-rodamco.com