Real estate investment manager AEW has added a 565sqm retail asset to its French portfolio.
AEW said it has acquired the Paris 1st arrondissement high street retail asset, currently let to fast food chain Five Guys, for a French institutional client.
Financial details were undisclosed.
The new asset adds to AEW’s 6m French portfolio, which includes logistics, offices retail, and residential sectors in major metropolitan areas.
Sébastien Cappigny, fund manager at AEW, said: “This prime high street retail asset is situated in an excellent location with high footfall, supported by the nearby Westfield shopping centre and strong transport connections. Located in the heart of Paris, this investment aligns with our client’s strategy of growing a diversified portfolio across Europe.
“Fully let to Five Guys, the property is home to one of their top-performing chains, underpinning the long-term sustainable income profile of this core investment.”
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