French asset manager Viveris Reim has acquired a commercial property portfolio from retailer Casino for around EUR 80 mln. The acquisition was made through the group's SPPICAV RFA Viveris Odyssée investment vehicle, which counts several institutional parties among its investors. Casino holds a minority interest in the vehicle.

Viveris Reim said that the transaction is part of its strategy to actively manage assets on behalf of the investment vehicle. The portfolio consists of 12 mid-sized retail surfaces and two flagship retail assets; a city centre Monoprix store and a Géant hypermarket.

'In 2010, we will create new OPCI vehicles through 'Club Deals' with corporates seeking to dispose of their commercial real estate', said Fabrice Lombardo, executive director of Viveris Reim. 'In order to optimalise invested capital and allow the company to re-invest in new assets with strong potential, asset rotation and active management of our assets are a pillar of our real estate strategy,' said Jacques Ehrmann, managing director of Casino's property arm.

Viveris Reim was advised by law firms Gide, Loyrette & Nouel, Lefèvre, Pelletier & Associés and notary firm Maître Vincent Gérard. Maîtres Pargade and Michaudet acted for Casino.

Founded in 2007, Viveris Reim is a leading real estate fund manager in France, with EUR 1.5 bn of assets under management at end-2009.