A joint venture of European private equity firm MGPA and Générale Continentale Investissements has sold Le Balthazar, a 32,700-m[sup]2[/sup] office complex located in Saint-Denis, France, to two institutional investors advised by AEW Europe. Financial details were not disclosed.
A joint venture of European private equity firm MGPA and Générale Continentale Investissements has sold Le Balthazar, a 32,700-m2 office complex located in Saint-Denis, France, to two institutional investors advised by AEW Europe. Financial details were not disclosed.
Le Balthazar, situated on the Place des Droits de l’Homme in the Saint-Denis business district just north of Paris, was designed by US architect Richard Meier, and consists of two independent wings linked by a glass atrium, as well as 430 parking spaces on two underground levels. Le Balthazar is HQE-certified, the French standard for high-quality environmental buildings.
The property is 100%-let with major tenants including France Telecom.
The deal was brokered by Stratégies & Corp and Jones Lang LaSalle. L’Etude Wargny Katz and Gide Loyrette Nouel advised the seller. L’Etude Thibierge & Associés and Freshfields Bruckhaus Deringer advised the buyer.
