French fund management group Ciloger has announced the acquisition of six Casino supermarkets in France for around EUR 45 mln. The properties were sold by the French retail giant Casino and are located in the city centres of Paris, Villeurbane and Nice.
French fund management group Ciloger has announced the acquisition of six Casino supermarkets in France for around EUR 45 mln. The properties were sold by the French retail giant Casino and are located in the city centres of Paris, Villeurbane and Nice.
The supermarkets are operated under the Hyper Casino, Franprix and Casino Supermarché brands and offer around 10,300 m2 of retail space. Ciloger was advised by law firm Alexandre-Dechin-Devriendt while Wargny-Katz acted for Casino.
The acquisition, which was signed on 30 December, comes hard on the heels of Ciloger's purchase in mid-December of a portfolio of 10 shopping centres in Western Germany for EUR 218 mln.
That transaction comprised EUR 138 mln in cash and EUR 80 mln of debt and was earmarked for a Ciloger-managed fund representing a partnership of seven institutional investors. The properties offering some 99,000 m2 of retail space have a strong tenant base of 12 national and international players such as Aldi, C&A, Edeka, Lidl, Metro and Rewe.
