French fund manager AEW Europe, on behalf of its Foncière Ecureuil OPCI investment vehicle, has acquired a portfolio consisting of 45 retail, office, and logistics properties for around EUR 280 mln. The assets were sold by French banking giant Caisses d’Epargne at the end of December. The Ecureuil OPCI is managed by Nami, an independent portfolio management company licensed by the French financial market watchdog AMF.
French fund manager AEW Europe, on behalf of its Foncière Ecureuil OPCI investment vehicle, has acquired a portfolio consisting of 45 retail, office, and logistics properties for around EUR 280 mln. The assets were sold by French banking giant Caisses d’Epargne at the end of December. The Ecureuil OPCI is managed by Nami, an independent portfolio management company licensed by the French financial market watchdog AMF.
Additionally, AEW Europe's Immocommercial OPCI has completed the acquisition of 42 supermarkets and retail stores branded Casino, Leader Price and Franprix from the French retailer Casino for a total of EUR 80 mln. The properties will continue to be operated under long-term, variable-rent leases based on a percentage of revenue. The transaction was financed by banks BNP Paribas and ING.
'In line with its asset turnover strategy, Casino is continuing to divest its mature properties,' Casino said in a statement. The retailer also sold four additional Casino supermarket properties to another partner. It said the transactions will provide the group with nearly EUR 100 mln in proceeds in 2008.
