La Française Real Estate Managers (REM) has acquired 38 Grand Frais shops in mainland France for €190 mln from Abénex, acting on behalf of investors.
The portfolio was previously acquired in 2016 by a real estate fund managed by Abénex.
A team has been proactively managing the 38 shops since the acquisition, maximising the exploitation of land potential and optimising holding patterns.
The portfolio, totalling 74,956 m2 of which 33,026 m2 comprises sales area, consists of locations close to a major retailer, which increases the traffic in the area.
La Française REM plans to reduce greenhouse gas emissions, including the installation of photovoltaic panels on the 38 sites and the application of white reflective paint on the roofs of most of them.
The Grand Frais concept is inspired by the atmosphere and layout of covered markets, prioritising local producers and retailers.
The shops bring together five food professionals in the same location: a greengrocer, grocer, butcher, cheesemonger and fishmonger.