Grosvenor has acquired a portfolio of five high-street assets from a private vendor based in Strasbourg for EUR 26.5 mln. The retail units are located at Rue de la Haute Montée and Rue des Grandes Arcades in Strasbourg, as well as at Cours Mirabeau in Aix-en-Provence.
Grosvenor has acquired a portfolio of five high-street assets from a private vendor based in Strasbourg for EUR 26.5 mln. The retail units are located at Rue de la Haute Montée and Rue des Grandes Arcades in Strasbourg, as well as at Cours Mirabeau in Aix-en-Provence.
The portfolio provides a total area of 2,230 m2, with all units benefiting from prime retail locations, and featuring well-known tenants such as Esprit, American Apparel, Saga and SFR.
'Grosvenor is continuing to build upon its retail portfolio in France, where the group currently manages over 100,000 m2 of both high-street and retail-park assets,' the company said. The new acquisition has been carried out by its French fund, which benefits from an OPCI-regulated structure. Further acquisitions amounting to EUR 200 mln are at an advanced stage of discussion, it added.
Allez&Associés was the legal adviser to Grosvenor for the transaction.
Grosvenor is active in international property development, investment and fund management with total assets under management of EUR 16.3 bn. In Continental Europe, the group manages its business from its offices in Paris, Madrid, Milan and Luxembourg.
