• Retail Estates has acquired a fully let 12,734 m² retail park in Osny (Île-de-France, France) for €29 million.
• The company has also committed to acquiring a 2,800 m² extension, yet to be built, for which planning permission has been granted.
• This first acquisition in France confirms the Company’s strategic decision to accelerate its international expansion.
  

On 9 April 2026, Retail Estates completed its first investment in France with the acquisition of the L’Oseraie retail park, located in Osny in the Val-d’Oise department (Île-de-France), for €29 million. The retail park covers 12,734 m², comprises 10 units and is fully let. The annual contractual rental income amounts to €1.95 million.

The retail park, which opened in 2019, houses a mix of international and national chains, including Action, Gémo, Maxi Zoo, Chaussea, Centrakor and La Halle. Furthermore, the park forms part of a larger commercial zone (ZAC Osny-l’Oseraie) featuring, in particular, an Auchan hypermarket and major retailers such as Boulanger, Leroy Merlin, But and Grand Frais, on a site benefiting from a strong and stable catchment area.

“France offers growth perspectives”

This acquisition fits within the property company’s growth and internationalisation strategy. CEO Nicolas Beaussillon: “We are determined to continue growing in our core business: retail parks on the outskirts of cities. In Belgium and the Netherlands, we now have significant market shares and growth opportunities are limited. France, on the other hand, offers this potential. The combination of a very large population, a highly dynamic domestic rental market, and a significant presence of retail parks makes this market particularly relevant to our strategy.”

The choice of France follows a multi-year analysis of European markets. The Paris region, with its strong demographics and purchasing power, fits perfectly with Retail Estates’ strategy.

A gradual and structured growth strategy in France

Following this first acquisition in the Île-de-France region, the real estate trust will continue its search in the periphery of other major French cities with a view to acquiring further retail parks and thereby replicating the success achieved in the Netherlands. There, Retail Estates began its international expansion in 2017 before experiencing very rapid growth. Currently, the company’s Dutch real estate portfolio now accounts for a third of its total value. Nicolas Beaussillon continues: “Just as in the Netherlands, we wish to rapidly expand our presence in France and build a local team with the market knowledge and expertise that will enable us to create future value for our shareholders.”

About the transaction

• Seller: Compagnie de Phalsbourg
• Price: € 29 million
• Area: 12,734 m²
• Number of units: 10
• Occupancy: 100%
• Annual contractual rental income: €1.95 million
• Financing: combination of own resources and bank loans
• Impact on loan-to-value (LTV): slight increase to 42.31% (pro forma on 31/12/2025) 

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