French real estate investment trust Gecina has acquired the last development phase of the Coeur de Seine project in the northwestern suburbs of Paris from Nexity-Entreprises. The financial details were not disclosed.

French real estate investment trust Gecina has acquired the last development phase of the Coeur de Seine project in the northwestern suburbs of Paris from Nexity-Entreprises. The financial details were not disclosed.

The Pointe Métro 2 development will offer around 15,000 m2 of High-Quality Environmental office space with retail accomodation on the ground floor and 274 underground parking spaces.

Designed by architect firm Jean-Paul Viguier, the property is located near the metro station in the heart of the new Coeur de Seine mixed-use development area, which covers 20 hectares and is managed by the Semag 92 public-private development company. As part of the vast development programme, Nexity has already completede over 76,000 m2 of office accomodation and 165 apartments. Construction work for Point Metro 2 will start in January 2011 with delivery planned for the fourth quarter of 2012.

Le Delage, the first building developed as part of the Coeur de Seine programme, was delivered to its tenant, GRT Gaz and Coyne & Bellier in March 2008 and is currently owned by Lasalle Investment Management. Point Metro 1, which was completed in October this year, was sold to Hines European Value Added Fund (HEVAF) and will be occupied by Prisma Presse.

Jones Lang LaSalle and Keops advised the seller on real estate issues. Notary firm Etude Bresjanac advised Nexity on legal matters while Etude Oudot acted for Gecina.