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Othrys Asset Management and the Carlyle Group enter into partnership around a value-add portfolio

(2019.03.12) The Carlyle group and Othrys Asset Management have completed the acquisition of the Canyon portfolio of the Canyon portfolio from Ceetrus.

Ceetrus is pursuing its arbitrage strategy and has just sold a portfolio of #9 commercial assets in France for an amount of €45 m. These #9 assets represent nearly 50,000 sqm and nearly #160 tenants

The portfolio, mainly made up of shopping galleries or co-ownership cells adjoining Auchan hypermarkets, includes in particular the Nancy Laxou, Châtellerault, Domérat, Mers-les-Bains malls and the Dieppe retail park.

“Ceetrus has been pursuing for several years an adapted and dynamic policy of its assets, with a view to financing the development and strengthening of its owned sites. This transaction is perfectly in line with this strategy ”specifies Benoît Lheureux, CEO of Ceetrus.

Ceetrus, which is delighted to start this new partnership with Carlyle and Othrys, was advised on this transaction by Rotschild & Co (Edouard Corbière, Benoît Thébault and Jennifer Lemarié) and by the Thibierge & Associés firm (Me Jacques-Laurent Renucci, Me Hélène Maurin).

Carlyle was advised by DLA Piper, Wargny Katz and Darrois Villey Maillot Brochier and Othrys Asset Management. The latter participating as co-investor and responsible for the asset management. The acquisition was financed by a contribution of equity and debt, with Société Générale which intervened for the financing advised by De Pardieu and Allez & Associés.


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