In the framework of its policy to invest in real estate assets fit for restructuring, Banimmo France announces the acquisition of the retail outlet Marché Saint-Germain, located in the 6th district of Paris, in Saint Germain des Prés.
This gallery counts about twenty covered shops and contains a part arranged as a covered market. It is located in a residential and retail environment, in one of the most dynamic areas of Paris, characterized by its important number of shops. The retail gallery develops an area of 3,924 m² and its occupancy rate reaches 93%.
This gallery has been acquired from Klépierre for a price of 29.6 million (costs included). It generates an annual gross rental income of 2.1 million. Banimmo has also signed a new credit facility for an amount of 25 million that will be entirely dedicated to this new acquisition.
A dynamic management policy will be undertaken in order to make use of the excellent localization of this asset, and this taking into account the market evolution in the coming months. This policy will enable Banimmo to gradually attract new retail shops that are more in line with the excellent location of this asset.
With this acquisition, Banimmo confirms its investment strategy on the French market and reinforces the weight of the retail assets in its portfolio.
These assets offer both a high rental return and an important value growth potential. After this operation, the indebtedness ratios of Banimmo remain moderate, with a ratio (financial debt on total assets) below 50%.