Publications

Primonial REIM snaps up seven mixed assets in France
Transactions - SEPTEMBER 27, 2019

To read this full article you need to be subscribed to Newsline.

Sign in Sign up for a FREE subscription

Primonial REIM snaps up seven mixed assets in France

by Kali Persall

Primonial REIM, a Parisian financial institution, has acquired seven mixed assets on rue de la République in Lyon, France, for €85 million ($93 million) from a wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA).

Primonial REIM purchased the assets on behalf of one of its funds and an institutional investor, Compagnie Fonciere Lyonnaise, the Crédit Agricole Center Est's real estate subsidiary.

Compagnie Fonciere Lyonnaise is already heavily invested in the metropolis of Lyon and is a major partner in this investment.

The seven mixed assets comprise 14,350 square meters (154,462 square feet) and include 115 lots consisting of 67 housing units, 25 shops and 23 office spaces. The portfolio has an occupancy rate of 96 percent.

“As part of our strong growth, we are proud of this major acquisition of a mixed real estate portfolio of housing, shops and offices in the emblematic street of Lyon, formerly ‘Imperial’ street,” said Grégo

Forgot your username or password?