Paris-headquartered real estate fund manager Bradford Asset Management has acquired the Avaricum shopping centre in Bourges, France, on behalf of its OPPCI retail park capital investment (RPCI) fund.
Financial details were not disclosed.
The asset was purchased from German asset manager DWS, which acquired it at the end of 2016 from Sogeprom.
The centre covers more than 12,187 m2 of space, has over 300 car parking spaces, and is located in the city centre of Bourges. The asset is leased to 31 tenants, including a mix of domestic and international brands.
Chiara Randazzo, head of transactions DWS France, Luxembourg & Belgium said: 'The sale of Avaricum is part of our strategy to reduce the fund's exposure to retail, by refocusing the portfolio on predominantly residential assets.'
The deal brings DWS's transaction total in France to €230 mln for 2022. The firm has some €2.3 bn real estate assets under management in the country.
