The European leader in shopping malls has announced the closing of the acquisition of RomaEst, one of the largest malls in Rome.
With a 10 million footfall, it is the sixth most visited centre in Italy and strategically located in a catchment area of 2.2 million consumers, this 97,000sq m GLA scheme is one of the leading retail and entertainment destinations in Italy, with 214 national and international banners like Inditex, Primark, JD Sports, Sephora, New Yorker, Mango, H&M and more.
This is Klépierre’s second external growth transaction of the year and a further stage of the Group’s strategy to strengthen the portfolio while generating additional net cash-flow.
Concurrently to this acquisition and assuming Klépierre’s capacity to make further opportunistic acquisitions with high cash returns, S&P has increased Klépierre’s outlook from stable to positive. At the same time, S&P has revised upwards its assessment of Klépierre’s liquidity profile, from ‘Adequate’ to ‘Strong’.
