Viveris REIM snaps up retail portfolio for EUR 63m

French real estate investment manager Viveris has concluded a second transaction with French retail group Casino for EUR 63 mln. Viveris' Odyssey SPPICAV investment vehicle acquired a total of 12 food stores in the latest transaction carried out at end-December 2011.

The stores, located in Paris and in other French regions, are branded as Hyper Casino, Casino Supermarché and Leader Price. The deal also included commercial galleries at Géant Casino hypermarkets.

Law firm Gide Loyrette & Nouel and notary Vincent Gerard acted for Viveris. Casino was advised by notaries Jacques Michaudet, Laurent Pargade and Sandrine Leroy.

Odyssey has several institutional parties among its investors, with Casino holding a minority interest in the vehicle. Most of the original investors took part in the latest acquisition, and were joined by six new institutional investors.

'This acquisition fits perfectly into the strategy Viveris Odyssey which, two years after its creation in December 2009, now represents a total volume handled over EUR 150 mln,' said Fabrice Lombardo, CEO and partner at the SPPICAV Viveris REIM.

Founded in 2007, Viveris REIM had EUR 2.7 bn of assets under management at end-December 2011.