French fund manager Viveris REIM unveiled plans to strengthen its OPCI fund management business this year through the creation of new partnerships with French corporates looking to divest their real estate. The company said it plans to carry out investments of over EUR 200 mln in 2010, mostly focused on Core/Core+ assets in office and retail sectors across France.
French fund manager Viveris REIM unveiled plans to strengthen its OPCI fund management business this year through the creation of new partnerships with French corporates looking to divest their real estate. The company said it plans to carry out investments of over EUR 200 mln in 2010, mostly focused on Core/Core+ assets in office and retail sectors across France.
'The asset management team will be very busy in 2010, considering the current projects and our acquisition plan,' said Henri Rémond, Executive Director in charge of Asset Management together with Fabrice Lombardo. The company said it is in negotiations with a number of parties seeking to outsource their real estate assets.
In 2009, Viveris Reim was able to increase its assets under management by 50% to roughly EUR 1.5 bn at present. The company, which was founded in 2007, considerably increased its staff and opened a new office in Paris to look after new investments.
Earlier this year Viveris acquired a commercial property portfolio from retailer Casino for around EUR 80 mln. The acquisition was made through the group's SPPICAV RFA Viveris Odyssée investment vehicle, which counts several institutional parties among its investors. Casino holds a minority interest in the vehicle. The portfolio consists of 12 mid-sized retail surfaces and two flagship retail assets; a city centre Monoprix store and a Géant hypermarket.