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2017 / iberian.propery // 93
CARMILA is a company specialised in revitalis-
ing the shopping centres anchored to Carrefour
hypermarkets in France, Spain and North of Italy.
Carmila was created on 16 April 2014 by Carrefour
(48%) and its partners (52%), made up of leading
international investors (Amundi, Axa, Blue Sky
Group, BNP Paribas Cardif, Colony Capital, Crédit
Agricole Assurances, Pimco and Sogecap) who
are all convinced of the high potential of creating
value at such shopping centres.
The company owns, manage, and develop shop-
ping centres and retail parks anchored by Carrefour
hypermarkets, but doesn’t own or operate any
Carrefour hypermarkets nor do lease to Carrefour.
A pan-European “Regeneration Factory” to Reinvig-
orate and Extract Value from Shopping Centres,
the company has closed €1.8 Bn of off-market
acquisitions since inception.
The planned merger with Cardety, to 2017, would
create the third-largest listed shopping centre
property company in continental Europe, with 205
shopping centres and retail parks with a gross asset
value of Euro 5.300 million.
Jacques Ehrmann
CEO and Chairman of Carmila
/ Executive Director of Carrefour
Yves Cadélano
Deputy CEO of Carmila / CEO
of Carrefour Property France
Géry Robert-Ambroix
Deputy CEO
Sebastián Palacios
COO Spain
Board Members
Sector Profile
Street Retail
Fund strategy Added Value
Gross Asset
Value (Iberia)
€ 1.100 Mn
Net Potential
Yield (Iberia) 6,8%
Nº of assets in
Iberia 70
Passing Rent
(IBERIA)
€ 72 Mn
Benchmark EPRA
Target Investors
Institutional
Shareholders: 58%
/ Carrefour (42%)
Legal Structure SICAV (France)
Legal Domicile France
Data collected from: