AEW Europe buys 12,000 m[sup]2[/sup] office project in Paris

Bouygues' real estate development unit Sodearif has sold an office development project to AEW Europe for an undisclosed amount. AEW Europe is buying the asset on behalf of a French institutional investor.

Located in Montrouge, in the southern suburbs of Paris, the development will offer 12,000 m² of space on completion, slated for July 2012. The building was designed by architectural firm Arte Charpentier, and will be certified according to BBC-Effinergie and HQE (High Quality Environmental) standards.

Sodéarif was advised by law firm Rochelois-Besins & Associés while Oudot & Associés acted for AEW Europe.

Earlier this year AEW Europe also acquired from Sodearif the Paul Bert office development project in Malakoff, Hauts-de-Seine on behalf of its client, Caisse Nationale du Patrimoine. Designed by architects F.S. Braun & Associés, the property is fully let to Hachette Livre with a nine-year lease term and consists of 10,000 m² of office accomodation, with a BBC-effinergie green certificate. Delivery is expected in November 2011.