Chariot Top Group BV, co-managed by Griffin Real Estate through its subsidiaries, signed a preliminary agreement to acquire a portfolio of 28 retail properties from funds managed by Ares Management L.P., AXA Investment Managers-Real Assets and Apollo Rida. The portfolio, totaling about 704,000 sqm of leasable space, includes nine M1 shopping centers, 12 hypermarkets, four power parks and three stand-alone DIY stores. The acquisition will be partially financed with €635m bank debt. Once the transaction closes, Chariot plans to resell part of the portfolio to EPP.
