C&W, Dotta hired to sell Monaco portfolio

Real estate advisers Cushman & Wakefield and Dotta Real Estate have been jointly instructed by SBM Offshore to execute a sale-and-leaseback of part of its real estate portfolio in Monaco.

The transaction comprises three offices, covering a gross portfolio area of 11,000 m2, located in the principality’s Fontvieille business district and includes 64 parking spaces.

SBM Offshore, Monaco’s largest private employer with over 7,400 staff worldwide, will enter into 9 or 12 year triple net leases, with annual indexation, for the assets which have an annual rental value over €5 mln.

The investment is expected to appeal to sovereign wealth funds, family offices and ultra high net worth investors, the agents said in a statement.

Dotta Real Estate is a family-run business based in Monaco and and serves markets in Singapore, Geneva and on the French Riviera.