“Following the successful repositioning, we took advantage of the sustained demand to achieve a good result for our investors by selling this retail property, which no longer fits into our fund strategy,” explains Mario Schüttauf, fund manager of Hausinvest.
Located south of the city of Orange in the Provence-Alpes-Côte d’Azur region, Orange les Vignes has around 30,500 sq m of retail space. The main tenants are Jardipassion, Stokomani and Kiabi.
Selective investments including new playgrounds and sanitary facilities, have improved the quality of stay in the center, as a result of the measures implemented by property manager Terranae.
Commerz Real was supported in the transaction by the broker Savills and the tax advisor Fidal.