French retailer Casino has reportedly sold two portfolios of retail assets to Sofidy and Uffi Ream for a total of EUR 84.5 mln. According to French magazine Business Immo, the company has disposed of 60 mini-markets to French property manager Sofidy.
French retailer Casino has reportedly sold two portfolios of retail assets to Sofidy and Uffi Ream for a total of EUR 84.5 mln. According to French magazine Business Immo, the company has disposed of 60 mini-markets to French property manager Sofidy.
The properties are earmarked for Sofidy's SCPI vehicles Immorente, Efimmo 1, Cifocoma 2 and Sofipierre, as well as for its Selectirente unit and the Sofimmo OPCI investment vehicle. The portfolio consists of 60 Petit Casino mini-markets, Spar and Casino supermarkets as well as Leader Price stores mostly located in the French regions.
Sofidy was advised by notary firm SCP Jusot Giray Luzu Trokiner & Duparc, while Etudes Balaÿ Michaudet & Courtet and Pargade acted for Casino.
Additionally, Casino has sold a portfolio consisting of 12 commercial assets to fund manager Uffi Ream for EUR 34.5 mln. The properties are located in the French regions and will continue to be operated by Casino.
'With this operation, Uffi Ream concludes the year 2009 with an investment volume exceeding that of 2008,' Uffi Ream's Renaud des Portes de la Fosse said. The buyer was advised by SCP Rochelois Besins & Associés as well as Lefébure Fonteilles & Associés. The seller was advised by De Pardieu Brocas Maffei and Etudes Balaÿ Michaudet & Courtet and Pargade.
