News+ CAL&F finances brand outlet village* near Lyon
CAL&F recently signed a real estate leasing agreement with Vendôme Outlets, a real estate company owned by Compagnie de Phalsbourg**. This €114 million financing is for building a mall of brand outlets, to be called "The Village", on the outskirts of Lyon. The Sud Rhône-Alpes and Centre-Est Regional Banks are providing €30 million in syndication and €17.5 million in cash flow by themselves. This outlet mall will house 90 warehouse-price luxury brand outlets in a high-end 25,000 m² development. The first stone was laid in September 2016 and the project is due to be inaugurated in October 2018.
* Malls specialising in discount sales, mainly of clothing and fashion accessories
** Group specialising in building next-generation shopping malls on the outskirts of towns