Macquarie Global Property Advisors (MGPA) and Generale Continentale Investissements (GCI) have teamed up to acquire a 32,000 m[sup]2[/sup] office complex development currently under construction in Saint-Denis, northern Paris, for EUR 113 mln. The Balthazar complex, acquired from French property company Fonciere Dixence, is being developed by construction group Sogelym Steiner.
Macquarie Global Property Advisors (MGPA) and Generale Continentale Investissements (GCI) have teamed up to acquire a 32,000 m2 office complex development currently under construction in Saint-Denis, northern Paris, for EUR 113 mln. The Balthazar complex, acquired from French property company Fonciere Dixence, is being developed by construction group Sogelym Steiner.
Balthazar, designed by the architects Richard Meier and Mas & Roux, will comprise two separate seven-storey wings linked by a glass atrium and 430 two-floor parking spaces on an underground level. Completion is scheduled for the end of 2008. HSH Nordbank will finance MGPA and GCI's purchase. Herbert Smith and Oudot & Associes notarial office acted for the seller. MGPA and GCI were advised by property advisor Gide Loyrette Nouel.