These operations, for a total of €212.2 million, will allow Carmila to further strengthen its portfolio by incorporating two major leading shopping centers in these regions, both adjacent to influential Carrefour hypermarkets.
These acquisitions will be financed through the combination of available cash and bank debt or bonds. In this regard, Carmila states that the company's leverage ratio as of June 30, 2017, pro forma date of the capital increase carried out in July 2017, was 29.4%.
Gran Vía de Hortaleza is located in a very urban commercial area northeast of the city of Madrid, and is a large shopping center built in 1992 with two floors comprising a Carrefour hypermarket of 10,950 m2 of sales room, owned by the Carrefour Group (it is one of the five best Carrefour hypermarkets in Spain), a shopping center with 69 stores and 6,300 m2 (object of this acquisition) and 1,700 parking spaces.
Carmila will carry out the renovation of this center with the concept 'Aire de Familia', which will boost the work of creating value: optimization of the mix-merchandising and growth of the occupancy rate, to date of 92, 7%.
Gran Vitrolles is a regional shopping center comprising a large Carrefour hypermarket of 20,500 m2 of sales room, owned by Grupo Carrefour (it is one of the 15 Carrefour hypermarkets in France), a shopping center with 84 stores and 24,350 m2 (object of this acquisition) and 4,709 parking spaces.
The Center receives approximately 5.2 million clients each year in an area of influence of more than 600,000 residents in its area of influence.
Carmila plans to develop an extension of 11,700 m2 for which it has already obtained administrative authorizations (commercial exploitation and construction license) to modernize and improve the Center, which will host at the end of the operation 130 operators.