Paul Hastings Advised La Française REM in its Acquisition of Portfolio of Grand Frais Stores

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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