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Foram Adds to French Retail Portfolio

PARIS-Dutch investor Foram International Holdings has bought a portfolio of 40 shops across France from Eurinvest L&G. The vendor is looking to diversify its holdings into other European markets.

By Graham Parker | Updated on July 11, 2001

PARIS-The Dutch investor Foram International Holdings has boosted its presence in France with the purchase of around 40 retail units in 28 provincial French towns for €23.47 million ($20 million), reflecting an initial yield of around 7.5%.

The vendor was the French retail investor, Eurinvest L&G. The sale still leaves Eurinvest L&G with a portfolio of 220 retail units in France but it has a stated policy of diversifying its holdings across Europe. To achieve this it is selling properties in France to release funds for reinvestment in the retail markets of Belgium, Spain and Italy.

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