Two funds managed by Keys Asset Management’s portfolio management company have invested €54.6m to buy a portfolio of 16 assets from French real estate investment trust (REIT) Gecina.

Gecina said it has sold the assets with “non-strategic profiles”, due to their location or size, to the funds managed by Keys REIM.

The 26,000sqm portfolio is made up of office assets, as well as retail units and parking spaces located in Paris, the Paris Region and other regions across France.

The REIT said with this sale, it is moving forward with its strategy to “rationalise its portfolio and further strengthening, in the Paris Region, the centrality of its office assets in sectors with a focus on mixed-uses and proximity”.

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