Klépierre acquires Casamassima mall in southern Italy

Core Viewpoint - Klépierre has acquired the Casamassima shopping center in the Bari metropolitan area of southern Italy, enhancing its retail portfolio in southern Europe [1][4]. Group 1: Acquisition Details - The financial terms of the transaction were not disclosed, and the acquisition was completed at the end of 2025 [1]. - Casamassima shopping center records an annual footfall of 7.5 million with a loyalty rate exceeding 90%, indicating its strong market position [1]. - The shopping center is part of a larger retail and leisure destination in the Apulia region, offering approximately 100,000 square meters of space [1]. Group 2: Tenant Base and Strategy - The tenant base includes major brands such as Spazio Conad, Leroy Merlin, Decathlon, MediaWorld, Sephora, Foot Locker, and Rituals, along with a flagship Zara store and the only Primark in the Apulia region [2]. - The acquisition supports Klépierre's business-to-business strategy, focusing on the growth of international category-focused retailers [2]. Group 3: Future Plans and Expectations - Several occupiers have committed to expanding their presence at the center, including the development of new flagship formats [3]. - Following the acquisition, Casamassima will be integrated into Klépierre's southern European portfolio, with a focus on operational initiatives such as lease reversion and retenanting [3][4]. - Klépierre expects the investment to yield a high single-digit cash return in its first year of ownership [4]. - As of June 30, 2025, Klépierre's shopping center portfolio was valued at €20.6 billion ($24 billion) [4].