French fund manager Ciloger has acquired the retail gallery of the Cotentin mall in Cherbourg, France, for its SCPI Actipierre Europe investment fund.
French fund manager Ciloger has acquired the retail gallery of the Cotentin mall in Cherbourg, France, for its SCPI Actipierre Europe investment fund.
The transaction price comes to just over €39 mln. The vendor is Dutch listed property firm Corio.
The asset consists of 45 retail units, largely let to national brands. It provides a total of 6,000 m2 of space and is adjacent to an Auchan hypermarket of 10,200 m2.
Ciloger was advised by law firm Dechin. Allez & Associes, Bul and Sl & Associes acted for Corio. Savills brokered the deal.
Furthermore, Ciloger's Actipierre has also bought a 2,200 m2 in Montivilliers, near Le Havre for €5.5 mln.
Following these acquisitions, the SCPI owns €202 mln of assets in France and Germany.
Ciloger, the manager of SCPI and OPCI vehicles marketed by Caisses d'Epargne and Groupe La Banque Postale, currently has €3.9 bn of assets under management.
