Hermes effettua un maxi “sale&leaseback deal” in Francia

Hermes Real Estate Investment Management Limited  ( HREIML) has acquired a 75 per cent interest in a
diversified sale and leaseback portfolio of French wholesale stores from METRO Cash and Carry France
(MCCF) as a part of a strategy to diversify and expand its portfolio internationally.
The portfolio consists of 43 core, well-maintained wholesale stores strategically spread evenly around
France, representing approximately 50 per cent of the French store network. The investment vehicle gives
HREIML control provisions over both the exit and the approval and execution of the business plan. Amundi
Real Estate are the vehicle’s regulatory fund manager. The investment reflects a total equity commitment
of low three-digit million £range. Daily business of METRO Cash & Carry is not affected by the transaction.
The French subsidiary of METRO Cash & Carry leased back the wholesale stores under long-term lease
JLL acted for HREIML, Societe Generale Corporate and Investment Banking acted as exclusive placement
agent and debt financial advisor to METRO PROPERTIES. Amundi Real Estate, the Amundi subsidiary for
real estate fund and asset management, is the regulatory fund manager.
Source : Company