HMSNF - Klepierre: A High Quality And Low Risk Malls Operator Offering 25% Upside
Company overview
Klépierre (OTCPK:KLPEF) is a French Real Estate Investment Trust. The company owns and operates roughly 150 shopping centers in 16 European countries. Its malls attract more than 1.1 billion visitors each year. The value of the mall portfolio and the net rental income are distributed as follows:
The group has a pipeline valued at €3.1B of which three quarters are related to extension projects while the remaining 25% are greenfield projects. This split reflects the business strategy of the company. Indeed, since the end of 2012, Klépierre has implemented a new