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IReit Global to acquire portfolio of retail properties in France for 76.8 million euros

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Chong Xin Wei &

Jude Chan

Published Thu, Jun 1, 2023 · 09:21 AM
    • Louis d'Estienne d'Orves, CEO of IReit Global's manager, expects the continued success of the Reit’s retail parks properties because of their “attractive yields for investors” and “lower rental costs for tenants”, compared with other asset classes.
    • Louis d'Estienne d'Orves, CEO of IReit Global's manager, expects the continued success of the Reit’s retail parks properties because of their “attractive yields for investors” and “lower rental costs for tenants”, compared with other asset classes. PHOTO: IREIT GLOBAL

    SOME two years after IReit Global snagged a portfolio of assets from sporting goods giant Decathlon in a sale-and-leaseback transaction, the Europe-focused real estate investment trust (Reit) is looking to add a new blue-chip tenant via another acquisition.

    The manager of IReit Global announced on Thursday (Jun 1) that it is planning to acquire a portfolio of 17 retail properties in France for about 76.8 million euros (S$112.2 million).

    The portfolio of out-of-town retail parks are fully leased to a wholly-owned subsidiary of B&M Group, a leading discount retailer in Europe that is listed on the London Stock Exchange and a constituent of the FTSE 100 index.

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