Asset manager AEW has acquired a fully let prime high street retail asset in France’s capital for local retail clients.
The manager has invested an unspecified sum to acquire the 200sqm asset at 20 Rue Tronchet in the 8th district of Paris, let to Danish furniture and design company Bolia.
Antoine Barbier, head of AEW Patrimoine, formed part of a strategy for French retail investors that focuses on diversified investments, said: “Situated in a highly sought-after location with high footfall, this asset is let to a strong, fast-growing occupier, Bolia, a leading high-end furniture company.
“This acquisition enhances our portfolio of retail assets at an attractive point in the cycle for the retail market, characterised by limited new prime space supply and a positive rental growth outlook.”
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