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Industry News

EuroBrief

January 23, 2020

Patrizia sells German supermarket portfolio
Patrizia sold 68 retail properties totaling 122,000 square meters to a fund managed by GPEP. About 85 per cent of the space is let to supermarket retailers. CRE Herald

Intu seeks cash infusion
Intu Properties chief Matthew Roberts says the firm may seek an additional €1.2 billion from investors to fund ongoing operations. He reports that Intu’s rental income fell by 9 per cent in 2019 and that the firm anticipates a further decline as consumers shift spending from high-street retailers. Forbes

Slovenian centre under way
SES Spar European Shopping Centers will open its €150 million ALEJA project, in Ljubljana, Slovenia’s northern district of Šiška, in March. The 32,000-square-meter project will comprise about 80 stores. Across

JLL looks outside industry for Central Europe CEO
Sabine Eckhardt joined JLL as CEO for Central Europe. She is to be based in Frankfurt, Germany, and will oversee the growth and digital transformation of the real estate consultancy’s German and Central European operations. CRE Herald

U.K.: Frasers plans store at Meadowhall
Department-store operator Frasers is to open a 65,000-square-foot store at the Meadowhall shopping centre, in Sheffield, U.K., by the spring of 2021. The store will replace an existing House of Fraser at that property. Retail Destination

Carrefour predicts profit after strong 4Q
Carrefour says fourth-quarter same-store sales increased by 3.1 per cent, thanks largely to strong sales in Brazil that continue to offset weakness in France. Reuters

Cattolica Assicurazioni invests in Dutch retail centres
Italian insurer Cattolica Assicurazioni made its first real estate investment outside Italy, taking an undisclosed stake in the €720 million Altera Retail Fund, which targets convenience retail properties in the Netherlands. IPE Real Assets

Nordic investor buys Stockholm retail property portfolio
NREP, a Nordic institutional investor, purchased four retail centers in Stockholm from Episo 4, an investment fund advised by Tristan Capital Partners, for an undisclosed price. ICA Supermarket anchors three of the centres. Across

Patrizia sells Copenhagen’s Galleri K
An unnamed buyer purchased the 24,500-square-meter, mixed-use Galleri K building, in Copenhagen, Denmark, from Patrizia. The centre includes 9,500 square meters of retail and 9,500 square meters of offices. IPE Real Assets

U.K. consumers like to drink and shop
Some €34 million in consumer spending occurred under the influence of alcohol in the U.K. in 2019, according to a survey. Roughly 56 per cent of British consumers had shopped drunk. Charged

By Brannon Boswell

Executive Editor, Commerce + Communities Today

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