A fund advised by pan-European real estate investment manager Meyer Bergman has bought a portfolio of 38 retail and mixed-use properties located across France for a sum in excess of €100m from an institutional fund that is approaching the end of its life. The portfolio comprises high street properties, retail parks, mixed-use properties and shopping galleries.
The acquisition is the second completed by Meyer Bergman European Retail Partners III since its first round of capital raising in December, when it purchased a portfolio of 11 prime retail properties in central Oslo’s historic shopping district for NOK5.3bn (€554m). The fund also acquired a block of three high street buildings in downtown Dublin for a sum in excess of €90m early December 2015.
Markus Meijer, chief executive officer of Meyer Bergman, said: “We have been looking for the right opportunity to increase our exposure to France and we found it with this diversified retail portfolio, which offers a number of asset management angles for us to add value. We are well advanced in committing the fund.”
Advising Meyer Bergman European Retail Properties III were Stepling, White & Case, C&C Notairs, PwC, JLL and Vendôme Capital Partners, while HSBC is providing debt finance for the acquisition. The seller was advised by Adyton; DLA Piper; Alexandre, Dechin & Devriendt and Wragge Lawrence Graham & Co.
