Ixis AEW Europe, the asset manager of the commercial property fund Fondis, has acquired the Emaux de Longwy commercial development from the property company Immobiliere Frey, in Meurthe-et-Moselle, Northern France.
Ixis AEW Europe, the asset manager of the commercial property fund Fondis, has acquired the Emaux de Longwy commercial development from the property company Immobiliere Frey, in Meurthe-et-Moselle, Northern France.
The project is part of the Europe shopping centre which will provide a total commercial area of 68,000 m2. The development will include 11 retail stores with tenants mainly devoted to personal outfitting, such as C&A, Tati, Gemo and Chaussland. Completion is scheduled for the end of 2007.
Additionally, Fondis also acquired a commercial portfolio including four premises in Marseilles and Reims, France. The Marseilles buildings are mainly let to the fashion retailer H&M, whilst the Reims building is occupied by the Belgian retailer La Grande Recre. The total value of these transactions comes to EUR 50 mln.
