Acquisition of a €143.5 million portfolio of retail park assets

FREY, the property investment company, announces the acquisition of a portfolio of retail assets for the sum of €143.5 million including stamp duty, through the FREY RETAIL FUND investment vehicle.

This transaction is part of its strategy to acquire quality retail park assets with stabilised status (Prime and Core). The portfolio comprises a retail part of 35 stores (GLA of 28,000 m²) situated in Douai-Dechy (59) and assets located in the Paris region (Maurepas (78) and Villiers-sur-Marne (94)) and in other parts of France (particularly Bordeaux-Mérignac, Rennes-Pacé, Toulon and Arras). Spread over 9 sites and 70 leases, it covers a total surface area of 77,000 m² in GLA.

This transaction brings the total investment level of FREY RETAIL FUND 1&2 to €295 million. As a result and in accordance with the agreement to extend the investment capacity of FRF vehicles 1&2 from €200 to €300 million signed in January 2015, FREY limited its injection of equity. Its share in the capital of FRF 2 thus fell from 33.33% to 24.16%.

For the record, this agreement provides for a potential additional extension of the investment capacity to €400 million.