German investor Commerz Real confirmed on Monday that it has acquired the Espace Kléber office scheme in Paris for about EUR 120 mln. The seller was French shopping centre specialist Klépierre.
German investor Commerz Real confirmed on Monday that it has acquired the Espace Kléber office scheme in Paris for about EUR 120 mln. The seller was French shopping centre specialist Klépierre.
The fully let property comes with a lettable area of approximately 10,600 m2 and 158 parking spaces. The main tenant is the private Swiss bank Crédit Suisse, which uses about 70% of the total floor space as its French headquarter. The other tenant is a globally leading company for environmental services. Commerz Real carried out the acquisition on behalf of its 'hausInvest europa' open-ended real estate fund.
'With the acquisition of the Espace Kléber property we have expanded our commitment in Paris. In April and August of this year, two of our institutional real estate funds invested in two office buildings located in the prime location between Arc de Triomphe and Trocadéro. In addition, we were able to sign the deed for the Le Flavia property in Ivry-sur-Marne near Paris in September, also earmarked for the hausInvest europa,' said Hans-Joachim Kühl, Member of the Board of Commerz Real AG and in charge of real estate acquisitions.
