Vendôme Capital Partners, on behalf of AG Real Estate's Immo Nation fund, has acquired a retail property at 13, place de la République in Paris for EUR 40 mln. The vendor is Aberdeen's Degi Europe Retail investment fund.

The asset offers 2,277 m2 of retail accommodation leased to four tenants, Camaïeu, Grand Optical, Orange, and Wall Street Institute.

This is the second French purchase carried out by AG Real Estate, the property arm of AG Insurance.

Catella and law firm Le Breton et Associés advised the seller. Dechin et Devriendt and Jones Day acted for the buyer.