LBO France buys La Défense office from Union Investment

LBO France has acquired Le Cap office building located at La Défense financial district of Paris from German fund manager Union Investment Real Estate.

Financial details were not disclosed.

Owned by Union's Unimmo Global fund since June 2004, Le Cap provides around 10,000 m2 of office spaces over nine floors, and is fully let to bank Société Générale.

'This transaction perfectly responds to Union Investments objectives. It shows the depth of the Paris-La Défense real estate market, which continues to offer excellent opportunities for well-let classic buildings,” said Dominique Dudan, president of Union Investment Real Estate France.

Union Investment was advised by Laurent Hosana of Etude C&C Notaires and LBO France by Sylvie Burthe-Mique of Etude Monassier.