Patrimoine & Commerce has entered into exclusive negotiations with Trimax to acquire a portfolio of retail parks in Western France for a total investment of around €90 mln.
Patrimoine & Commerce has entered into exclusive negotiations with Trimax to acquire a portfolio of retail parks in Western France for a total investment of around €90 mln.
The portfolio, offering a total space of just over 65,000 m2, is let to 45 tenants and generates rents of €6.3 mln a year.
The package includes a 32,500 m2 retail park in Mans, built in 2012 and fully let; ,a 12,000 m2 fully let retail park in Hertré, west of Alençon, as well as a number of other smaller assets in Petit Coudray.
Patrimoine & Commerce is a French listed real estate company specialising in retail parks and other retail assets. The company, which last year merged with Sepric, owns a portfolio valued at just over €600 mln.
The company aims to reach a portfolio of €1 bn by end-2016.
