January 15, 2021
Mata Capital's management team is strengthening its food retail asset portfolio with the acquisition of Monoprix stores in Saint-Cloud (92), Meudon (92), Saint-Maur (94), and Saint-Ouen (93) for its core-plus fund in co-investment with an institutional investor.
Following this acquisition, Mata Capital manages €470 million in local retail real estate assets in France. The sale allows Novaxia Investissement to complete a significant transaction for 2020, benefiting investors in its real estate fund focused on transforming ideally located obsolete buildings.
The four Monoprix stores are ideally located in the heart of cities with either an affluent population (Meudon and Saint-Cloud) or those undergoing urban renewal, such as Saint-Ouen and Saint-Maur, due to their proximity to Paris and excellent public transport access (existing metro/RER lines and new Grand Paris lines).
The portfolio was acquired at an average price of approximately €6,000/m² based on a total area of nearly 18,600m². The assets, all freehold properties, are primarily located on the ground floor with significant parking areas and built on large land plots, allowing for future densification.
"Our team will be attentive to the requirements and expectations of both the brand and the municipal team to support the community's development in its local retail offering. This partnership strategy has already been initiated for the Monoprix stores in Saint-Germain-en-Laye (78) and La Garenne-Colombes (92) that we acquired in 2019," says Laurent Delautre, Partner at Mata Capital.
"This transaction reflects Novaxia Investissement's approach across all its real estate funds: aligning everyone's interests. Thanks to ideally located assets, this is a significant transaction for 2020, benefiting our investors," states Mathieu Descout, President of Novaxia Investissement.
For this transaction, Mata Capital was advised by Fairway Avocats law firm, Allez&Associés notarial office, ETYO for technical due diligence, and Cushman&Wakefield.
About Mata Capital
Mata Capital is an independent asset management company specializing in real estate fund management on behalf of institutional investors and private family groups. The company focuses on core-plus, value-add, and opportunistic risk profile investment strategies across all real estate asset classes. Founded in 2015, Mata Capital comprises 24 professionals and manages €1.2 billion in assets under management as of December 31, 2020. Mata Capital is authorized as a Portfolio Management Company by the French Financial Markets Authority (AMF) under number GP-16000024.
About Novaxia Investissement
Novaxia Investissement is an asset management company authorized by the French Financial Markets Authority (AMF) since July 8, 2014, under number GP 14000022. Its mission is to create responsible real estate savings products. With its various funds, Novaxia Investissement places urban renewal at the heart of its investment strategy, a source of value for its 10,000 investors. Through its range of savings products, it caters to all those who wish to add meaning to their returns by participating in the transformation of cities. Among these products, Novaxia Investissement offers real estate products eligible for PEA/PEA-PME (French equity savings plans) and for the reinvestment of disposal proceeds – Novaxia Immo Club 6 – as well as a new SCPI (real estate investment trust) model, Novaxia NEO, a pioneer in socially responsible investment.