The Madeleine fund, an open-ended commercial real estate fund focused on office and retail assets in France, has acquired the 17,200 sqm Géant Casino hypermarket and retail gallery in the ZAC des Fontaines, north of Dijon.
The property, which combines a Géant Casino Hypermarket and 13 complementary retail units, is located in an established retail area with good visibility and accessibility from the northern ring road of Dijon.
STAM Europe will be responsible for the investment and asset management initiatives on behalf of the Madeleine fund. The property, which is in good condition and stabilized, offers an attractive cash-on-cash and opportunities for future growth linked to the potential development of an adjacent retail park which would further enhance the retail area.
In this transaction, Madeleine was advised by Xavier Jancène from Allen & Overy and François Gauthier from l’Etude Lasaygues.