ING Real Estate Investment Management has boosted its French commercial portfolio through the €50 million acquisition of the 11,850 m² Marques Avenue Romans factory outlet for its Retail Property Fund France Belgium.
Located in the center of Romans, southeast of Lyons, the scheme, in two fully let units has 467 parking spaces.
- Romans 1 was purchased from an Anglo-Saxon fund and incorporates 7,500 m² of retail space. It opened in 1999 and today houses 48 brands; including Mango, Puma and Nike.
- Romans 2 was acquired from Concept & Romans and opened in March 2006. A further 4,000 m² of accommodation incorporates 18 retailers. Two new shops, comprising 350 m² will open shortly.
"These acquisitions contribute to our policy of highly selective acquisitions, not just in terms of the quality of the assets acquired, the catchment area, and the make-up of their commercial offering, but also by analysing the reliability of the tenant brands" says Laurent Babelon, Acquisitions Director at ING Real Estate Investment Management France.
Source: ING Real Estate Investment Management
