Rue de la République

Marseille, France

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A parade of historic Haussmannian-style buildings totaling 85,000 sqm along Rue de la Republique in Marseille was purchased in 2008. FREO managed the heavy restructuring strategy of a large part of the buildings with a capex budget of ca. €100mm with works scheduled between 2008-2017.

Investor: Lehman Brothers
Acquisition: 2008
Rentable Area (m²): 85,000

FREO initially was responsible for the asset management of over 1,000 residential units and 200 retail units in Rue de la Republique in Marseille. A strategic plan was drafted to redevelop the existing buildings. A student housing (5,800 sqm), a senior residence (4,800 sqm), a 4 star hotel (5,000 sqm), an office building (3.400sqm) & 600 residential units were either delivered or are under delivery with this important operation.

Over 450 of the residential units have been already sold to private or institutional investors. FREO’s business plan also was to create a business-friendly environment through a dynamic scheme for the retailers of the street. 200 retail units are owned through a regulated SPV and will benefit from all the changes in the street. Well known retailers such as Monoprix, Office Depot, Subway, BNP, Société Générale, and Picard have already opened stores on the street.

Key activities:

icon-search-and-acquisition@2x Sourcing and Acquisition
icon-asset-management@2x Asset Management
icon-development-management@2x Development Management

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Rue de la République - Marseille, France

Rue de la République - Marseille, France

Rue de la République - Marseille, France

Rue de la République - Marseille, France

Rue de la République - Marseille, France

Rue de la République - Marseille, France

Rue de la République - Marseille, France

Rue de la République - Marseille, France

Rue de la République - Marseille, France

Rue de la République - Marseille, France