France's Amundi Immobilier has acquired an office building in Paris Bercy from listed property firm Gecina for EUR 90 mln. Law firm Hogan Lovells advised the buyer.
France's Amundi Immobilier has acquired an office building in Paris Bercy from listed property firm Gecina for EUR 90 mln. Law firm Hogan Lovells advised the buyer.
The asset, known as Pirogues, was one of four offices divested by Gecina in December. The Paris-based real estate investment trust also disposed of 3-5-7, rue de Monttessuy in the seventh arrondissement of Paris for nearly EUR 84 mln to Generali France Immobilier, acting on behalf of Generali Vie. The property provides 8,500 m2 of office accommodation as well as 269 parking spaces. It is 80% let to Natixis and law firm Vivien & Associés.
Separately, Gecina sold other two offices for a combined EUR 35 mln. The deals - part of Gecina's EUR 1 bn disposal target for 2011 - reflect an average net exit cap rate of 5.5%.
