Listed French real estate firm Gecina has acquired a portfolio of student residential properties in Bordeaux and the nearby towns of Talence and Pessac for EUR 28.5 mln. Close to two major university centres, the portfolio comprises a total of 473 housing units, with 9,740 m[sup]2[/sup] of living space, 933 m[sup]2[/sup] of retail space and 208 parking spaces. The immediate yield on this investment is 7%. Gecina began diversifying its residential portfolio with the development in April of a student residence in the Bourget district.
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