Real estate development company Ceetrus SA, formerly known as Immochan International SAS, completed the sale of its Canyon portfolio to Carlyle Group LP and Othrys Asset Management.
The portfolio comprises primarily shopping malls or co-owned lots adjacent to the Auchan hypermarkets.
Carlyle Europe Realty, an investment vehicle targeting real estate and real estate-related assets and companies, provided equity financing for the transaction. The acquisition supports Carlyle's plans to boost its presence in France and its new strategy of acquiring and managing local shopping malls.
DLA Piper, Wargny Katz and Darrois Villey Maillot Brochier provided advice to Carlyle.