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Marccus Partners advises Deka on the acquisition of a Megastore in Bordeaux

01.02.2010

Corio has sold its Bordeaux megastore to Westinvest Interselect (a DekaBank subsidiary) for 67.3M€. This complex located on rue Saint-Catherine covers on 16.700 m² GLA (Gross Leasing Area) and is rented to four brand companies (Fnac, Séphora, H&M and Go Sport).

Corio acquired it in 2001 and restored it in 2003, for a total investment amount of 48,8 M€. The declared yield is less than 6% with a 100% occupation rate at the time of sale.

Corio explains the decision to auction this asset by its desire to focus on higher growth potential shopping centres. The dutch real estate company had already sold an office building in Rueil-Malmaison for 30.6 M€ last December.