Société de la Tour Eiffel sells the Marché Vaugirard shopping centre to Société des Grands Magasins

21/02/2022

– Société de la Tour Eiffel announces the sale of the Marché Vaugirard shopping centre to Société des Grands Magasins

Société de la Tour Eiffel announces the sale of the Marché Vaugirard to Société des Grands Magasins, a specialist in acquiring and redeveloping city-centre retail assets. The shopping centre, acquired in 2017, is located in Paris’s 15^th arrondissement.

The sale concerns 2,210 m² of floorspace, split between 25 shops on 2 floors, plus 87 parking spaces.

“This sale marks the end of Société de la Tour Eiffel’s asset disposal plan launched in 2019. The Marché Vaugirard deal, following the sale of Nîmes Sept Collines, is the culmination of a long collective effort by the Société de la Tour Eiffel teams.” said Christel Zordan, Chief Executive Officer of Société de la Tour Eiffel.

“We are delighted to announce the acquisition of Marché Vaugirard, a city-centre site with a healthy customer base of locals and office workers and an ideal place to apply our regeneration know-how. We will be working with the tenants to make it an even more attractive, modern shopping centre, that can match shoppers’ expectations and be a lively hub for the whole community”, said Frédéric Merlin, Chairman of Société des Grands Magasins.

Deal advisors: ROC Notaires, Alcaix (Notaries) / Up Real Estate, EOL, CBRE (Brokers)

Media relations: Laetitia Baudon – Consulting director – Agence Shan – Tel. + 33 (0)1 44 50 58 79 – laetitia.baudon@shan.fr

Investor Relations: Aliénor Kuentz – Account director – Agence Shan – Tel. + 33 (0)1 42 86 82 45 – alienor.kuentz@shan.fr

For Société des Grands Magasins, Press contact: François Cathalifaud – Tel. +33 (0)6 62 15 50 03 – francois.cathalifaud@elabe.fr