French REIT Gecina has announced the sale of the Dock-en-Seine building in the Paris region to BNP Paribas REIM's SCPI Accimmo Pierre fund, for around €130 mln.
Situated at the gateway to Paris, the nearly 16,000 m2 asset is located at the heart of the Saint-Ouen Docks mixed development zone, a new 100-hectare eco-district on the embankment of the Seine.
Designed by architect Franklin Azzi, it was completed in 2013 and it is currently entirely leased to two blue-chip occupiers, Kérudys and RSI (Régime Social des Indépendants).
'The fully owned Dock-en-Seine building is a solid investment for SCPI Accimmo Pierre, thanks to its fully guaranteed rental status. Its outstanding connections make it part of the dynamism of the Grand Paris project,' said Guillaume Delattre, deputy general manager of BNP Paribas REIM France, in charge of Investments.
Gecina said that the sale is part of its €1.2 bn disposal programme announced with the acquisition of Eurosic last year.
BNP Paribas REIM France was advised by Thibierge; Gecina was advised by BNP Paribas Real Estate Transaction France as part of a co-exclusive mandate with Catella and the Oudot & Associés study.
