KanAm Grund Group acquires long-term leased and sustainable property ′AGAPES′ in France

• Expansion of the European real estate portfolio for specialized institutional real estate funds
• Modern office building "AGAPES" with BREEAM ‘very good’ certification, let on long-term leases, contributes to further diversification of the real estate portfolio

• Specialized institutional real estate fund is aimed at institutional investors from the banking and savings bank sector with an investment focus on Europe

The KanAm Grund Group has acquired the "AGAPES" property in Villeneuve d'Ascq, in the greater Lille area in France, for one of its specialized institutional real estate funds. The long-term tenant of the property is the Agapes S.A. Group – the food division of the "Association familiale Mulliez" (AFM), which is very well known in France.          

Completed at the end of 2020, the modern multifunctional office building covers a total area of almost 9,000 square meters.  It consists of two basement floors, a ground floor and two upper floors. Two large inner courtyards ensure excellent daylight, while the appealing architecture guarantees a high quality of stay. The rental space is characterized by high-quality fittings. The modern floor plans with communication zones meet the high requirements of contemporary working methods, which are also very important to Agapes as a tenant. The property also meets high sustainability standards, as evidenced by BREEAM ‘very good’ certification.

Sascha Schadly, Managing Director at KanAm Grund Group, says: „We are very pleased to have acquired "AGAPES" for the institutional investors of one of our specialized institutional real estate funds. The transaction once again demonstrates that we are able to select and acquire first-class properties for our investors even in the current challenging market environment."

Location and tenant of the property    

The "AGAPES" property is located at 4 rue de l'Espoir / 2 rue du Moulin de Lezennes in Villeneuve d'Ascq, in a very established and modern neighborhood.    

The property has very good transport links. The center of Lille can be reached in 10 minutes via the M146.  Several motorways are in the immediate vicinity. The M1 metro line provides good connections to public transport and the Lille Europe railway station.

The future long-term tenant of the property, the Agapes S.A. Group, was founded in 1971 and has over 7,300 employees worldwide. The group owns nine brands in the food sector, including Pizza Paï, Flunch and So Good. In total, there are almost 300 restaurants with locations in France, Canada, Italy, Luxembourg and Brazil.     

Agapes Group is owned by the Mulliez family. In addition to Agapes, this family owns interests in other businesses linked to retail (a sporting goods chain, a hypermarket chain, a clothing chain or a retailer of DIY and gardening products). The brands characterize the immediate surroundings in Villeneuve d'Ascq and are strongly linked to the region. It is also home to the multifunctional Lille Mauroy stadium (Decathlon Arena) and the V2 shopping centre. There are also a university, numerous apartments, office buildings, restaurants, cinemas, etc.

The Lille metropolitan area is located at the center of the major European capital cities and is considered an important economic center in the north of France. With around 1.2 million inhabitants, the metropolitan area is the fourth largest conurbation in France after Paris, Lyon and Marseille. The three largest cities are Lille, Villeneuve d'Ascq and Roubaix. 

The KanAm Grund Group was legally advised on the transaction by Carol Santoni and the notary's office Victoires. The seller was advised by Jones Lang LaSalle.