SCHRODER European Real Estate Investment Trust (Reit) has expanded its portfolio into France, completing a deal with one of the premier property companies in the country.Schroder, a rand hedge for South African investors, focuses on European cities, and promises consistent income payouts, as opposed to seeking market-beating capital growth.It has acquired two grocery-anchored retail assets in Rennes and Anglet, France, making it the first offshore-based property company to offer South Africans exposure to French real estate."The freehold properties are located in established retail parks, which benefit from strong local catchments. The acquisition has been made in a joint venture with the vendor, with the company acquiring 70% of the investments and the vendor, Mercialys, retaining a 30% interest. The joint venture has an initial term of six years, during which time a sale of the investment requires the consent of both parties," Schroder said.The combined purchase price, including t...
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