The KanAm Grund Group has acquired an office property dubbed Agapes in Villeneuve d'Ascq, in the greater Lille area in France, for one of its specialised institutional real estate funds.
Financial details were not disclosed.
Completed at the end of 2020, the modern multifunctional office building covers a total area of almost 9,000 m2. It consists of two basement floors, a ground floor and two upper floors, plus two large inner courtyards.
The property also meets high sustainability standards, as evidenced by BREEAM ‘very good’ certification.
The long-term tenant of the property is the Agapes Group, the food division of France's Association familiale Mulliez (AFM), which has over 7,300 employees worldwide.
The group owns nine brands in the food sector, including Pizza Paï, Flunch and So Good. In total, there are almost 300 restaurants with locations in France, Canada, Italy, Luxembourg and Brazil.
Sascha Schadly, managing director at KanAm Grund Group, said: 'We are very pleased to have acquired Agapes for the institutional investors of one of our specialised institutional real estate funds. The transaction once again demonstrates that we are able to select and acquire first-class properties for our investors even in the current challenging market environment.'
The KanAm Grund Group was legally advised on the transaction by Carol Santoni and the notary's office Victoires. The seller was advised by Jones Lang LaSalle.
