Spain’s Colonial has outlined details of its well-trailed purchase of Amundi’s headquarters at 91-93 Boulevard Pasteur in Montparnasse station in Paris.
The company said it had ‘formalised’ the acquisition of the 40,000 m2 property - which comes with a renewed 12 year lease to Amundi - for €485 mln including transfer costs and at a yield of 3.9%.
The acquisition has been made for Colonial’s subsidiary, SFL, from Primonial REIM France.
In the statement, Colonial said: ‘The transaction responds to Colonial's investment strategy, which consists of long-term investment in prime office buildings located in the CBD areas of the cities of Madrid, Barcelona and Paris.
According to Pere Viñolas, CEO of Colonial and president of SFL, the office is a ‘unique opportunity to secure a strategic position in Paris, specifically near one of the main train stations in France, which is a key area in the city’.
Amundi first occupied it in 2012 and a new 12 year lease was signed in February this year. The property has been completely renovated and has 17 floors that offer a horizontal layout of 2,100 m2, efficient distribution, and high energy certifications.
As previously reported, JLL and Strategies & Corp advised on the deal.
