Pramerica Real Estate International said on Monday that it has sold three properties in Paris and Rotterdam. The sales fall under Pramerica's management mandate for IVG to provide 'well-performing real estate assets for its institutional investors'.
Pramerica Real Estate International said on Monday that it has sold three properties in Paris and Rotterdam. The sales fall under Pramerica's management mandate for IVG to provide 'well-performing real estate assets for its institutional investors'.
The financial details for the transactions were not disclosed.
Pramerica's Europroperty Fund has divested an office building located at avenue Aubert in Vincennes, in the eastern suburbs of Paris. The price is believed to be in the region of EUR 45 mln, excluding taxes. The property was acquired from Nami Investment, an OPCI owned by Natixis Assurances and managed by AEW Europe.
Completed in 2002, the office scheme offers around 9,300 m2 of space and 241 underground parking spaces. It is entirely leased to Essilor, a French producer of corrective lenses for glasses. Jones Lang LaSalle advised Pramerica on the sale. Law firm Allez & Associés advised the seller; Prud'homme - Baum acted for the buyer.
A property on Rue d'Astorg in the heart of the Parisian CBD was sold as a share deal to a single owner-occupier.
In Rotterdam, a global insurance group acquired Beursgallery, one of Netherlands best-known shopping centres, from Pramerica. The majority of the retail space in the area is in a long-term lease to a major Dutch retail group.
Click on the link below to read 'Pramerica completes EUR 120m of London office transactions'
