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URW sells Polygone Riviera for triple-digit million amount

Polygone Rivera is the first lifestyle shopping center in France that combines contemporary art and leisure with shopping. It opened in 2015 and has an extremely attractive product range with over 130 brands.

Located in Cagnes sur Mer on the highway towards Monaco, about 20 km from Nice, the shopping center offers over 77,000 sq m of entertainment and leisure fun for the whole family.
The binding offer for the URW shares of the center (71,000 sq m) of over 272.3 million euros came from Frey, a real estate company specialized in the development and operation of outdoor shopping centers in Europe get. The center has an excellent BREEAM In-Use certification and shares many common features with the DNA of the FREY portfolio.

The transaction is expected to close this quarter.

Frey specializes in open-air shopping centers in Europe. With its Greencenter concept, FREY is a pioneer in the field of environmentally friendly retail parks and inventor of the next generation of open-air shopping centers Shopping Promenade, “entreprise à mission”, B Corp™ certified. FREY also leads major urban renewal and mixed-use projects.