VVF Vacances, a French company active in the leisure accommodation sector, has acquired six residential buildings and seven shops operated by tourist organisation Primatour for EUR 28 mln. The residential assets include about 500 housing units, located across Cannes, Antibes, and Menton in the Alpes-Maritimes region, as well as in Saint Raphaël, Hesdin, Barr and Mousquety, French magazine Business Immo reported.
VVF Vacances, a French company active in the leisure accommodation sector, has acquired six residential buildings and seven shops operated by tourist organisation Primatour for EUR 28 mln. The residential assets include about 500 housing units, located across Cannes, Antibes, and Menton in the Alpes-Maritimes region, as well as in Saint Raphaël, Hesdin, Barr and Mousquety, French magazine Business Immo reported.
The company said it is planning to carry out a major renovation and extension of the premises. 'This acquisition allows an improvement to VVF Vacances presence in the regions concerned, and confirm its modernisation strategy, whilst continuing its objective of consolidation in the French market', VVF Vacances said. The company was advised by business bank Close Brothers.
