BNP Paribas Asset Management Alts has expanded its European outdoor hospitality portfolio with the acquisition of a 10ha campsite in Fréjus, France.
BNPP AM Alts invested an undisclosed sum to acquire the five-star site in the Var region for its Plein Air Property Fund 1 (PAPF1) strategy.
The estate features more than 360 pitches, predominantly modern mobile homes, alongside a water park, spa facilities and sports courts.
The transaction follows eight acquisitions by PAPF1 over the past 12 months, spanning six sites in France and two in Italy for a total investment of nearly €150m.
Launched in 2017, the PAPF1 now has more than €580m in assets under management.
Paul Darribere, global head of healthcare and hospitality, BNP Paribas Asset Management Alts, said: “Our growth strategy in the leisure and outdoor hospitality sector benefits from a favourable European market, enabling us to continue diversifying our portfolio while helping us achieve our aim of delivering performance for our investors while honoring our ESG commitments.
“The recent acquisition of the Fréjus site illustrates our ability to acquire high-quality assets with long-term growth potential.”
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