Freiburg: Procimmo fund buys «La Galerie»

The Nordmann Group is selling «La Galerie» and the Grand-Place parking lot in Fribourg to the «Industrial» sub-fund of Procimmo Real Estate SICAV. The shopping arcade near the railroad station, which was created 18 years ago, connects the «Fribourg Centre» shopping center with the Manor department store. The property comprises retail space of around 3,500 square meters as well as a cinema with ten screens and a total of 1,900 seats. The transaction also includes the Grand-Place underground car park, which with its 450 parking spaces is the most important public car park in the center of Fribourg.

With the sale of «La Galerie», the Nordmann Group is finally exiting the retail real estate business. The company had previously disposed of its real estate holdings in Valais and Villars-sur-Glâne. In line with its new investment strategy, the Nordmann family is now concentrating on residential and commercial real estate, according to a press release. Nordmann will remain active in Fribourg and will be building 72 apartments in the Pérolles district from the start of 2026. The company was originally active in the Swiss retail sector - with franchises from Manor, Jumbo and Carrefour, among others.

«Acquisition fits seamlessly into investment strategy»

The «Procimmo Real Estate SICAV - Industrial» specializes in industrial and commercial real estate and reportedly invests in selected retail properties, among others. «This new acquisition fits seamlessly into the fund's investment strategy», writes Procimmo in a press release. «Based on our excellent experience with the Aubonne outlet, we see another opportunity here to further develop a strategic retail location», says Richard Dahdah, Chief Investment Products Officer at Procimmo. (aw)