Real estate acquisitions

La Française Real Estate Managers (REM) acquires a business park in Saint-Jean-d'Illac (33), France

02 November 2023

La Française Real Estate Managers (REM), a real estate asset management company with €32 billion in assets under management (as at 30/06/2023), has acquired a business park from SCI Porta Romana at 91 Impasse Johannes Kepler in Saint-Jean-d'Illac (33), west of Bordeaux.

In the heart of an industrial zone with over 300 companies, the warehouse is located 6 km from the Rocade motorway and 7 km from Bordeaux’s airport. It has a total surface area of 3,960 m2, including 500 m2 of office space. The premises, equipped with modern, high-performance hot and cold air production equipment, are leased in their entirety to a company specialising in the import of Italian gastronomic products. There are also plans to install solar panels on the asset by 2028.

Thierry Molton, Managing Director of La Française Real Estate Managers - Retail Division, concluded: "The final stage of this three-phase operation was completed in 2022. As a result, we reap the benefits of the running ten-year guarantee on the asset, which meets the latest energy standards. In addition, the fact that the tenants have been in place since 2010 helps to mitigate rental risk. The geographic location of the asset, a couple of miles outside of Bordeaux, is a real strong point given the boom in e-commerce.” 

This acquisition, for just over €4 million, was made on behalf of a collective real estate investment vehicle. 

La Française REM was advised by 14 Pyramides Notaires ; the seller was advised by the notary office Meyssan et Associés. Both parties were advised by BNP PARIBAS REAL ESTATE TRANSACTION France's regional investment team.

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