FREY acquires Polygone Riviera, a major open-air shopping centre in France
FREY has exercised its option to acquire from Unibail-Rodamco-Westfield all the shares of the companies owning the Polygone Riviera open-air shopping centre in Cagnes-sur-Mer (06), for a total of €272.3 million (incl. transfer tax)
Commenting, Antoine Frey, Chairman and Chief Executive Officer of FREY, said:
“FREY is pursuing its growth strategy with the aim of becoming the European leader in sustainable retail. This strategy has contributed to create a property company with a unique portfolio, which is now taking on a whole new dimension. Polygone Riviera is a major site in France comprising all the fundamentals we value at FREY. We are delighted to integrate the centre into FREY’s portfolio and are enthusiastic about the idea of rolling out all our management expertise there.”