French property company Gecina said it has completed the acquisition of the l'Angle office building located in the new Boulogne-Billancourt district in Paris from Hines European Development Fund (HEDF) for EUR 84mln. Gecina said it has also signed a 12-year lease with the French newspaper l'Equipe for all of this building's office space.
French property company Gecina said it has completed the acquisition of the l'Angle office building located in the new Boulogne-Billancourt district in Paris from Hines European Development Fund (HEDF) for EUR 84mln. Gecina said it has also signed a 12-year lease with the French newspaper l'Equipe for all of this building's office space.
The acquisition of the 11,000 m2 building, which was designed by architect Jean-Paul Viguier, is part of a partnership agreement Gecina signed at the end of 2005 with HEDF for the development of a total of four office buildings comprising nearly 81,000 m2. The delivery of the l'Angle building will be followed by the Khapa building this July and the delivery of the Anthos building and the Horizons building in 2010 and 2011 respectively.
Gecina was advised by the De Pardieu Brocas Maffei Lang LaSalle and the Amaury Group, which controls l'Equipe, by CB Richard Ellis.
