French banking group Credit Agricole has purchased the Evergreen office development in Montrouge (Hauts-de-Seine), Paris. The vendor was The Carlyle Group's first European real estate fund, Carlyle Real Estate Partners I (CEREP I). The financial details were not disclosed.
French banking group Credit Agricole has purchased the Evergreen office development in Montrouge (Hauts-de-Seine), Paris. The vendor was The Carlyle Group's first European real estate fund, Carlyle Real Estate Partners I (CEREP I). The financial details were not disclosed.
The Carlyle Group said the acquisition allows Credit Agricole group to consolidate a number of different parts of its business in one location to optimise efficiency and reduce costs.
The Evergreen site comprises 40,000 m2 of office space, which has been restructured and is expected to be occupied from the second quarter of 2010. The site also provides Credit Agricole with the option of constructing additional new offices in 2011 for possible occupation through to 2013.
