Primonial closes hat trick of deals in France

Investment manager Primonial REIM has completed the acquisition of a number of city-centre retail assets in France on behalf of its managed funds.

In a statement, the company said it has bought a mixed-use building at Rue de Paris in Lille, let to four tenants including BNP Paribas and Michael Page International; 13 shops in the Hyper U - Centre Sud retail gallery in Grand-Quevilly; and two stores in Champagne-au-Mont d’Or, occupied by fashion retailers Ixina and Destock Jean’s.

The total acquisition price comes to just over €18 mln.

'Primonial REIM confirms its strength in the segment of small and medium-size retail units in city centres and dense urban areas,' the company said.

Primonial REIM was advised by notary firm Aurore de Thuin and law firm CGR Legal.

Jones Lang LaSalle acted on the commercial side for the sale of the Champagne-au-Mont d’Or asset, while IDM Conseil and Jérôme Dray advised the vendor on the transaction in Lille.