French real estate firm Foncière Masséna said on Thursday it has completed the purchase from Warburg - Henderson of an office building located in Boulogne Billancourt for over EUR 36 mln. Completed in 2005, the R'Way building provides 4,262 m[sup]2[/sup] of office space and 95 parking spaces. It is entirely let to the municipality of Boulogne Billancourt and the National Institute for Canceret 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. Jones Lang LaSalle acted for the seller.
French real estate firm Foncière Masséna said on Thursday it has completed the purchase from Warburg - Henderson of an office building located in Boulogne Billancourt for over EUR 36 mln. Completed in 2005, the R'Way building provides 4,262 m2 of office space and 95 parking spaces. It is entirely let to the municipality of Boulogne Billancourt and the National Institute for Canceret 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. Jones Lang LaSalle acted for the seller.
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.
