Mercialys : Casino risk could be reduced, yes, but some situations still to be clarified
>Auchan and Intermarché could become tenants with a virtually even split - We estimate that Mercialys’ economic rental exposure on a proforma basis to Casino could be reduced from 17.5% at end-September 2023 to around 4-5% following the announcement of 24 January concerning the sale of supermarkets and hypermarkets to Auchan and the Les Mousquetaires group. Following these transfers and after analysing Mercialys’ portfolio, we estimate that Auchan and Intermarché coul...Mercialys is a real estate company, specialized in the transformation and management of shopping centers. Co. manages a portfolio of 91 properties located throughout France at Dec 31, 2013. Co.'s assets are classified into three categories: large regional shopping centers (GLA of over 365,800 sq. m.), neighborhood shopping centers (GLA of over 181,600 sq. m.), and Other assets (40,900 sq. m.). At Dec. 31, 2013, the portfolio comprised 25 large regional shopping centers, 36 neighborhood shopping centers, and 18 other sites such as food stores, specialty stores, independent cafeterias, service malls, and convenience stores, representing a total gross leasable area of about 588,300 sq. m.
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