AEW Europe SGP has acquired, on behalf of one of its institutional clients, the Marques Avenue outlet center located in the French town of Romans-sur-Isère, near Valence in the Rhone Valley.
The seller was Retail Property Fund France Belgium (RPFFB) managed by CBRE Global Investors. The purchase price has not been disclosed.
Marques Avenue Romans-sur-Isère totalizes 17,000 m², divided into 72 retail units. The center was developed in 1999 and extended in 2005. The tenants are essentially national and international brands, including amongst others: Levi’s, Lancel, Geox and Pepe Jeans. These brands offer products at a minimum 30% discount.
AEW Europe is one of the leading managers of outlet centers in France managing a total of six centers comprising more than 84,000 m² of retail space and generating sales in excess of €274 million before tax. The outlet centers other than Romans-sur-Isère managed by AEW Europe are located in, Corbeil-Essonnes, Ile Saint-Denis, Talange, Franconville and in Gonesse.
CBRE Global Investors was advised by the Les Notaires du Quai Voltaire, White & Case and ICF Environnement.
Source: Bellier Financial