De Pardieu Brocas Maffei has advised the banking pool (BNP Paribas, Crédit Agricole Corporate and Investment Bank, Société Générale, Natixis and the French subsidiary of ING BANK N.V.) on the financing of the acquisition from Unibail-Rodamco-Westfield by a joint venture composed of Unibail-Rodamco-Westfield, Crédit Agricole Assurances and La Française Real Estate Managers of a portfolio of 5 French shopping centers and developing an aggregate surface area of 320.800 sq.m.
The consortium of leading investors comprised of Crédit Agricole Assurances and La Française will hold54.2% of the newly formed JV and URW 45.8%. The new JV now owns the following assets: Aérovilleand So Ouest in the Paris region, Rennes Alma in Rennes, Toison d’Or in Dijon and Confluence in Lyon.
The implied offer price for the assets at 100% is €2,032Mn, as announced on February 12. A syndicate of banks has funded the underwritten €1.0 Bn secured financing for the JV, with a 7-year maturity.