Grosvenor sells two French retail assets to NAMI-AEW Europe

Grosvenor has sold two French retail property assets to NAMI-AEW Europe for €188m, five years after purchase.

AEW Europe said it bought the assets for the OPCI Franceurope Immo, SCPI Fructifonds Immobilier and SCPI Laffitte Pierre vehicles.

Arsène Marques, deputy managing director at NAMI-AEW Europe, said: “In line with the investment strategy of the three funds involved in the acquisition, these two shopping centres have strong performance records and are well established in their prime, high-footfall locations.”

The 9,960sqm and 11,160sqm assets, in Marseille’s Bonneveine and in Châlons Croix Dampierre, are anchored by Carrefour hypermarkets.

A Grosvenor-led group bought the assets in 2011 in a joint venture with Dutch pension fund bpfBOUW’s investment subsidiary Bouwinvest REIM, paying Unibail-Rodamco €148m for the two shopping centres.

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