Cegereal has signed a deal with a Dutch company to buy the Hanami office campus in Rueil-Malmaison, located in the Western Crescent of Greater Paris.
The 30,000 m2 office complex comprises eight office buildings situated on a 3-hectare site on the banks of the Seine. It is currently undergoing an environmental audit and refurbishment, due for completion by the end of the year.
'This first acquisition is a great opportunity offering solid returns,' commented the company's CEO Raphaël Tréguier. 'This flexible, responsible office complex located within Greater Paris dates back to 1991 but is resolutely modern and open to change. It boasts a range of qualities essential for large companies looking to provide their employees with an efficient workplace that ensures their well-being.'
Cegereal said it valued the site at €152 mln, corresponding to a rate of return of 6.6%. The site is 91% let and tenants include Axens, Vinci Environnement and Brandt, signed with an average lease duration of eight years.
The acquisition is scheduled to be completed before the end of the year.
Cegereal was advised by White & Case, Fidal and Attal & Associés.
