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News  ›  GlobeNewswire Inc.

KLÉPIERRE ANNOUNCES THE ACQUISITION OF A MALL IN ITALY

GlobeNewswire Inc. Logo GlobeNewswire Inc. By Klépierre
KLÉPIERRE ANNOUNCES THE ACQUISITION OF A MALL IN ITALY

Klépierre, Europe's leading shopping mall operator, has completed the acquisition of Casamassima, a major mall in the Bari metropolitan area with 7.5 million annual visitors and a 90%+ loyalty rate. The mall features major retailers including Zara, Primark, Leroy Merlin, and Decathlon. Klépierre expects high single-digit cash returns in year one and plans refurbishment and brand expansion to enhance performance.

Insights
AIQ   negative

Dropped nearly 10% since early November peak, reflecting sector-wide uncertainty


KLPPY   positive

The acquisition of a high-performing asset with strong footfall (7.5M annually), exceptional loyalty rates (90%+), and strategic location in southern Europe demonstrates growth and market expansion. Expected high single-digit returns in year one and planned improvements indicate confidence in value creation and operational synergies.