Sofidy, a French asset management firm fully owned by Tikehau Capital, has announced that it has closed a club deal with other institutional investors to buy two retail assets in Paris and Bordeaux for a total of €153 mln.
The Soref1 fund for institutional investors along with other vehicles including SCPI Immorente are acquiring a 10,900 m2 hypermarket in Paris located at 98 Boulevard Massena in the 13th arrondissement. The real estate asset is part of a recently renovated shopping centre and is operated by the Géant Casino brand.
In Bordeaux the funds have bought a retail park in Bègles, in the inner suburbs of Bordeaux, providing 43,700 m2. This park, with a historic occupancy rate close to 100% over the past ten years, has 22 tenants.
‘We are delighted to have completed this first club deal carried by our funds and third-party institutional investors, on an asset class that we know well and which has weathered the crisis remarkably and which should continue to perform,’ said Jean-Marc Peter, managing director of Sofidy
‘Our renewed interest in this type of retail space, which is very well placed in the heart and around the most dynamic metropolises, is solidly based on the resilience of peripheral retail and food trade,’ added Olivier Loussouarn, director of Investments at Sofidy.
