French listed property company Fonciere Massena said it has signed an agreement with German investor Warburg Henderson on the acquisition of an office complex in Boulogne Billancourt. Completed in 2005, the R' Way building provides 4,262 m[sup]2[/sup] of space and 95 parking spaces on the underground level. The property is fully let to the municipality of Boulogne Billancourt, and the National Institute for Cancer, on a six-year lease agreed in 2006. The French company said the investment is in line with its strategy to focus on large high-quality office properties. CB Richard Ellis advised Fonciere Massena on the deal.
French listed property company Fonciere Massena said it has signed an agreement with German investor Warburg Henderson on the acquisition of an office complex in Boulogne Billancourt. Completed in 2005, the R' Way building provides 4,262 m2 of space and 95 parking spaces on the underground level. The property is fully let to the municipality of Boulogne Billancourt, and the National Institute for Cancer, on a six-year lease agreed in 2006. The French company said the investment is in line with its strategy to focus on large high-quality office properties. CB Richard Ellis advised Fonciere Massena on the deal.
French REIT Fonciere Massena is the real estate investment vehicle of bank and insurance group Credit Mutuel. The company manages a commercial and residential portfolio of around 230,000 m2 in France, generating an annual rent of around EUR 40mln.
