AXA's Immoselect open-ended fund under liquidation has hired Catella to market the EUR 250 mln Liberté 2 office scheme in the southeastern district of Paris of Charenton, PropertyEU has learned.
AXA's Immoselect open-ended fund under liquidation has hired Catella to market the EUR 250 mln Liberté 2 office scheme in the southeastern district of Paris of Charenton, PropertyEU has learned.
It is understood that the complex, which offers 46,500 m2 of office space, is being marketed for a yield of 6-6.5%, reflecting the building's lack of green rating and its secondary location. The scheme is entirely leased to Groupe Natexis Banques Populaires with a 12-year lease.
Delivered in April 2005, the asset was bought by AXA in October of the same year for EUR 260 mln.
AXA and Catella declined to comment.
The sale is part of the liquidation of the EUR 2.5 bn Immoselect fund announced by AXA Real Estate Investment in October last year. The fund was not able to close sufficient asset sales by the deadline of 16 November when it had to re-open or liquidate.
