Abenex REIM sells a portfolio of 14 stores to Pierre Premier Gestion

At the end of 2019, Abenex REIM sold to Pierre Premier Gestion on behalf of the OPPCI PPG RETAIL, a portfolio of 14 retail property assets throughout France, mainly leased to the Grand Frais brand.

This portfolio, representing a total surface area of more than 28,000 m², was built up by Abenex REIM in 2014 as part of a private sale process. It was in a dedicated OPPCI which followed the real estate development of the brand and its partners on these sites for 5 years.

Voted the favourite brand in France in 2018, the Grand Frais concept brings together in one place several food professionals on the model of the city centre market: a greengrocer, a fishmonger, a dairy product seller, a grocer and a butcher.

Created in 1992, Grand Frais now has more than 215 stores in operation.

With this transaction, the PPG RETAIL fund, created in June 2018, doubles the size of its assets under management as part of its strategy of investing in retail premises in France.

Abenex REIM retains the 2nd portfolio of real estate assets acquired in 2016 and also leased to the Grand Frais brand.

This transaction was carried out through CBRE’s Capital Markets Retail department. Abenex was also advised by C&C Notaires, De Pardieu Brocas Maffei and BNPP Real Estate. Pierre Premier Gestion was adviced by the firm of Maître Yvon GERARD. Crédit Mutuel and N3T also participated in this transaction.

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