French fund manager La Française has entered into a partnership with French retail group Vivarte to acquire 80 real estate assets.
French fund manager La Française has entered into a partnership with French retail group Vivarte to acquire 80 real estate assets.
La Française said that it has positioned itself as a partner of Vivarte, the French leader in the footwear and ready-to-wear market, with the outsourcing deal. The investment volume was not disclosed.
The transaction is being carried out via a leveraged real estate investment fund (OPCI RFA EL) that has brought together a pool of French institutional investors.
Over 80% of the portfolio includes assets based in the centre of Paris and major regional cities, the majority of which have prime and leading locations.
The portfolio's rental income flows are guaranteed by 12-year leases and the individual units are leased to national retail brands such as André, Caroll, Kookaï, Minelli and San Marina in town centres and La Halle for stores based in retail parks.
La Française employed a similar strategy in the 2009 acquisition of 158 hotel properties run by the Accor Group and in 2012 when it acquired 97 Carrefour Market supermarkets.
