AEW has acquired a luxury store on 384 Saint Honoré Street in Paris on behalf of Fondis, a fund focused on acquiring and managing retail assets across France, from a private seller.
Financial details were not disclosed.
'This acquisition is aligned with Fondis’s strategy of investing in high quality retail assets in strong high footfall retail locations and demonstrates our team’s ability to source the best opportunities for our clients,' said Stéphane Sebban, fund manager of Fondis for AEW.
'This acquisition brings the fund’s total portfolio to €600 mln with a remaining investment capacity of €200 mln, as we continue to pursue an active pipeline of potential investments.'
Located on Saint Honoré Street, one of Paris’ premier high-end retail destinations at the corner of Duphot Street, the building is fully let to luxury brand Christian Dior Couture.
AEW was advised by Allez & Associés and Clifford Chance on the transaction. Alliot-Immobilier acted as intermediary.
