Hermes French major sale and leaseback many
Hermes Real Estate Investment Management Limited ( Prada Hobo ) acquired 75 percent in a diversified portfolio sale and leaseback French hypermarkets Metro Cash and Carry France ( CFPC ) as part of a strategy to diversify and expand its international portfolio.
The portfolio consists of 43 core , well maintained hypermarkets strategically evenly distributed throughout France , which is about 50 percent of the French branch network. The investment vehicle are provisions HREIML control both the output and the approval and implementation of the business plan . Amundi Immobilier fund managers control of the vehicle . The investment reflects the commitment of the overall low three -digit million pound equity. The daily operation of Metro Cash & Carry is not affected by the transaction. The French subsidiary of Metro Cash & Carry wholesale leased under long-term lease.
JLL acted for HREIML , Societe Generale Corporate & Investment Banking acted as sole placement agent and financial advisor of the debt on the properties of the metro. Amundi Immobilier,Prada Hobo a subsidiary of Amundi for real estate fund and asset management, the manager's control.