La Française Real Estate Managers has acquired the Cap Azur office development project in the new Euromediterranee district of Marseille for around EUR 21 mln.
La Française Real Estate Managers has acquired the Cap Azur office development project in the new Euromediterranee district of Marseille for around EUR 21 mln.
The purchase was carried out on behalf of the group's Selectinvest 1, Immofond 4 and Pierre Privilège SCPI investment vehicles.
Developed by BNP Paribas Immobilier, the scheme will provide a total of 6,200 m2 of space as well as 101 parking spaces on completion in August 2012.
Etude Gibert et Associés advised the buyer, Etude Santelli and BNP Paribas Real Estate Transaction acted for the vendor.
Earlier this week La Française REM finalised the purchase of two office properties in Paris from Beni Stabili Siiq, the Italian real estate investment arm of France's Foncière des Régions. The total investment volume came to EUR 20 mln.
