8 asset portfolio

Background

The portfolio comprises c. 41,000 sqm GLA and is predominantly made up of town centre retail galleries adjacent to strong food anchors, such as Nîmes Etoiles (Carrefour) and Océanis in Saint-Nazaire (Géant Casino). The retail park Sud Avenue in la Roche-sur-Yon was also included within the portfolio, as well as several grocery stores let to Leader Price. JLL had successfully sold several assets from a previous, larger portfolio from the vendor and had in depth knowledge of the assets.

Strategy

JLL was aware that the institution was a motivated seller and had developed a comprehensive understanding of SGM’s requirements as an emerging and prevalent player in the retail investment market, particularly in the secondary space. SGM are focused on reinvigorating retail assets through exploiting underlying fundamentals such as the presence of strong retail brands.

Result

Using our knowledge of the platform, we were able to successfully match this domestic retail player with a large French institution to complete the sale of the last remaining assets from the wider portfolio that JLL had worked on four years prior. Both parties were very pleased with the eventual outcome, given the difficult retail landscape in general, and the fact that JLL was able to skilfully negotiate and close the deal during the Covid pandemic.