Rockspring has acquired a further 24% stake in Hammerson’s O’Parinor shopping centre on behalf of a client.
The National Pension Service of Korea now has a 75% share of the 968,751 sq ft centre in Aulnay-sous-Bois, near Paris, after acquiring 51% last year.
The recently signed non-recourse credit facility for O’Parinor was drawn, raising an additional £47.6m (€54m), taking Hammerson’s net receipts for the site in total to £140.1m (€160m).
The disposal is in line with Hammerson’s strategy to realise value, and release capital for investment opportunities in the UK and France, which offer superior returns.
David Atkins, chief executive of Hammerson, said: “I am pleased to have completed the sale of the second stake in O’Parinor as expected, which, combined with the announced credit facility, brings further liquidity into our business. However, we retain a significant interest in the centre, and are progressing with plans to refresh its offer to tenants and consumers.”
joanna.bourke@estatesgazette.com
