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 from a private investment firm a retail unit located in the heart of Nice (06), on the iconic "Place Masséna", close to one of the city's busiest crossroads.
Close to public transport links, the retail space is located under the arcades which are characteristic of the square, and it has an impressive 14-metre façade. The LED-lit retail premises span 868 m² over three levels (lower floor, ground floor and first floor).
The retail space is 100% leased to the Roche Bobois group, a company specialised in the design and distribution of contemporary furniture.
Thierry Molton, Managing Director of La Française Real Estate Managers - Retail Division, concluded: "This acquisition is a good addition to our retail portfolio because of the quality of the tenant, its visibility and the prime location of the property and, more generally, its proximity to a number of well-known retailers".
This acquisition, for ca. €9 million "deed in hand", was carried out on behalf of a collective real estate investment vehicle.
La Française REM was advised by 14 Pyramides Notaires; the seller was advised by Flusin & associés. Both parties were advised by Catella Property.
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