La Française enters partnership for retail outlets
La Française and Vivarte Group have entered a partnership covering some 80 retail locations across France.
This latest property related deal comes after La Française acquired 158 hotel properties in 2009, run by the Accor Group, and 97 supermarkets operated by Carrefour.
Vivarte Group is focused on the footwear and ready to wear market. The outlets covered by the partnership are locted in the centre of Paris and prime locations in key regional cities.
Rental income flows are guaranteed by 12 year leases. The outlets are leased to brands such as André, Caroll, Kookaï, Minelli and San Marina in town centres, and La Halle for stores based in retail parks.
The investment will be carried out via a leveraged real estate investment fund (OPCI RFA EL) that has brought together a pool of French institutional investors.