European fund manager Grosvenor has snapped up a Monoprix supermarket at Paris' Porte de Chatillon in a EUR 26 mln sale-and-leaseback deal. The property - located near a Conforama store - was purchased for an OPCI investment vehicle managed by Grosvenor.
European fund manager Grosvenor has snapped up a Monoprix supermarket at Paris' Porte de Chatillon in a EUR 26 mln sale-and-leaseback deal. The property - located near a Conforama store - was purchased for an OPCI investment vehicle managed by Grosvenor.
Grosvenor said the transaction is part of its explansion strategy in the French retail property sector. Bank SaarLB financed the deal.
The asset anchors a city centre retail gaillery at Avenue Pierre Brossolette in the Malakoff district and provides 4,500 m2 of total retail space.
DC Advisory Partners and law firm 14 Pyramides advised the vendor. Law firm Alexandre, Dechin, Devriendt acted for the buyer.
Grosvenor is a privately-held fund manager with EUR 12.4 bn of assets under management in the UK and Continental Europe.
