IVG Immobilien has sold one property and acquired two others in Paris in transactions worth a total EUR 323 mln, the German property company said on Thursday. The property that was sold is located in the Rive Gauche district of the French capital and fetched a price of EUR 165 mln. It consists of 15,000 m[sup]2[/sup] of office and retail space and was sold as part of a share deal to French property group IGCE, which is also the main tenant.
IVG Immobilien has sold one property and acquired two others in Paris in transactions worth a total EUR 323 mln, the German property company said on Thursday. The property that was sold is located in the Rive Gauche district of the French capital and fetched a price of EUR 165 mln. It consists of 15,000 m2 of office and retail space and was sold as part of a share deal to French property group IGCE, which is also the main tenant.
IVG has acquired the office complex Galilee Velizy, located south of Paris with a lettable space of 32,000 m2, from a subsidiary of The Royal Bank of Scotland for EUR 116 mln. In addition, it has bought the office building La Chocolaterie with a lettable space of 6,000 m2 in the northwestern district of Paris for EUR 42 mln. The vendor of this building, built in 1907 as a chocolate factory, is PREF Luxembourg, a fund managed by IXIS AEW Luxembourg.