Tristan Fund acquires French retail portfolio for €72m

CCP 5, a fund managed by Tristan Capital Partners, has acquired a 50,044-square-meter (538,669-square-foot) real estate portfolio of six Casino grocery stores in France from a joint venture with Fortress Investment Group and Casino Immobilier for €71.8 million ($79.9 million). The deal includes four leading hypermarkets in the country and two supermarkets located along the Mediterranean coast.

“This portfolio acquisition delivers well-located, high income-producing assets from day one. The grocery market has shown itself to be a resilient asset class and is benefiting from increased institutional capital investment,” said Thibault Ancely, managing director – investments at Tristan Capital Partners. “We expect to see continued demand for these assets as demonstrated by our recent sale of a Casino hypermarket in Pessac. This latest acquisition is in line with our strategy to build out our portfolio in France across office, logistics and retail where we see value crea