French real estate investor Uffi Ream has acquired a retail scheme in Malakoff, south of Paris, from the Grosvenor Retail European Properties Fund. Uffi Ream has purchased the property on behalf of an SCPI investment vehicle for EUR 20 mln.
French real estate investor Uffi Ream has acquired a retail scheme in Malakoff, south of Paris, from the Grosvenor Retail European Properties Fund. Uffi Ream has purchased the property on behalf of an SCPI investment vehicle for EUR 20 mln.
The retail scheme provides 6,000 m2 of space distributed across eight shops let to well-known national brands including Conforama, Alain Afflelou, Frank Provost, La Halle aux Chaussures, Mim, a Paul bakery.
Savills acted for Grosvenor in the transaction, while the Retail Consulting Group and Allez & Associés. Rochelois & Associés acted for Uffi Ream.
Savills said the disposal is in line with the sale programme Grosvenor initiated in 2008. Last year the UK-based property group sold a 10,500 m2 of retail warehouse park located in Villeneuve d’Ascq near Lille, to Uffi Ream.
