French asset manager Amundi Real Estate has closed the acquisition of a portfolio of French retail warehouses from Grosvenor Europe, part of privately owned international property group Grosvenor.
The Equinoxe package consists of a total of 29 properties in eight locations across France, offering 35,000 m2 of space let to national brands including But, Decathlon and King Jouet.
The properties, which are fully let, are believed to have been sold for over €70 mln. According to French media, they generate a rent of €4.2 mln a year.
A Grosvenor spokesperson said the portfolio includes a But store located in the Plaisir commercial area and a Decathlon store located in Mont-Saint-Martin as well as several assets in the commercial area of Cabriès.
Amundi carried out the acquisition on behalf of its SCPI Edissimmo (50%), Génépierre (35%) and Gemmeo Commerce (15%) vehicles.
Grosvenor acquired the assets on behalf of its French retail fund between 2006 and 2010.
Grosvenor was advised by Rothschild & Co and Allez & Associés. Amundi was advised by Othrys, Thibierge and Gide.
