Carmila sells €37.3m of non-strategic assets in Spain

French commercial property manager Carmila has sold four non-strategic assets in Spain for €37.3 mln.

Carmila shopping centre

This transaction generated a 12% premium over appraised values and an initial net yield of 6.6%, highlighting the demand for its properties.
These sold assets, acquired by a prominent asset manager, are standalone medium-sized units located on car parks, totalling 24,338 m2.
Including this Spanish sale and previous disposals in France (Villers-Semeuse and Quetigny for €29 mln), Carmila's total disposals for 2025 now stand at €66 mln, surpassing its annual target of €50 mln. 
The funds from these disposals will be strategically reinvested into value-adding acquisitions. Carmila maintains its strategy as a net buyer, aiming for €100 mln in annual acquisitions and €50 mln in disposals, all while upholding a strong financial position.
Carmila, founded by French retail group Carrefour and major institutional investors, is Europe's third-largest listed commercial property owner. Its purpose is to enhance the value of shopping centres adjacent to Carrefour hypermarkets in France, Spain, and Italy. 
As of December 31, 2024, its portfolio was valued at €6.7 bn, comprising 251 shopping centres that hold leading positions in their respective catchment areas.