Paul Hastings (Europe) LLP advised La Française Real Estate Managers in connection with the share deal acquisition of a portfolio of 38 Grand Frais stores located in France from Abénex for a property value of approximately €190 million.

This acquisition was made on behalf of three SCPIs, French Property Funds including Épargne Foncière, Sélectinvest 1, and CM-CIC Pierre Investissement, and a fund of funds accessible only to insurance companies.

This portfolio, previously acquired in 2016 by an OPPCI a French regulated real estate vehicle, managed by Abénex as part of a sale and leaseback, totals 74,956 sqm of which 33,026 sqm in retail space.

Real estate partner Jean-Louis Martin led the Paul Hastings’ team, which also included associates Quentin Jobard, Tom Chanseau and Adèle Patinier.

More details on the transaction can be found here.

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