Paris-based fund manager AEW Europe has acquired the Primavera portfolio of two shopping centres in France for a total of €188 mln from the UK’s Grosvenor Group.
The malls are the 9,960 m2 Bonneveine shopping centre in Marseille and the Croix Dampierre shopping centre as well as three separate retail units – totalling 11,160 m2 - in Châlons-en-Champagne, 160 km east of Paris.
The properties were acquired on behalf of the OPCI Franceurope Immo, SCPI Fructifonds Immobilier and SCPI Laffitte Pierre funds.
NAMI-AEW Europe, an affiliate of AEW which carried out the purchase, was advised on the transaction by White & Case and Cheuvreux. The vendor, Grosvenor, was represented by King & Spadling et l’étude Allez & Associés. JLL was the agent for the transaction.
AEW had over €50.2 bn of assets under management worldwide as at 30 June 2016, of which €19.1 bn in Europe.
