Events ICSC Spring Convention May 20 – 23, 2007 Las Vegas Visit GE Real Estate's booth at C8 Exchange Place

	1,900 employees 45 offices, 28 countries $59 billion in assets $78 billion served assets

 

Investment Notes

The merger of Paris-based Rodamco Europe N.V. and Rotterdam-based Unibail Holdings S.A. will not only create the largest pan-European commercial property company with a market capitalization of € 21 billion (roughly $29 billion), it will also have a huge impact on the global retail market, especially development. 

With a portfolio consisting of 95 shopping centers totaling 47.9 million square feet, the new company will be the largest pan-European owner of retail space. And, it plans to focus on its development pipeline.

Prior to the merger, Rodamco was prohibited from development, even though it has land to accommodate 10.8 million square feet of retail space. The combined company, however, will be able to develop and will have a new construction pipeline totaling more than 16 million square feet with a price tag of € 6.1 billion ($8.3 billion).

The combined company will operate in 14 countries including France, Spain, and The Netherlands.

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