French fund manager UFG Rem has acquired office building Le Malesherbes located at Levallois-Perret, in the north-western suburbs of Paris from UBS Real Estate KAG for nearly EUR 51 mln. The acquisition was carried out for three of the group's SCPI vehicles. The property offers 10,200 m[sup]2[/sup] of space and 290 parking spaces.
French fund manager UFG Rem has acquired office building Le Malesherbes located at Levallois-Perret, in the north-western suburbs of Paris from UBS Real Estate KAG for nearly EUR 51 mln. The acquisition was carried out for three of the group's SCPI vehicles. The property offers 10,200 m2 of space and 290 parking spaces.
Maîtres Wargny, Herbert Smith Paris and Constructa Asset Management advised the seller while Etude 14 Pyramides acted for the buyer.
In June this year, the company also bought Le Confluent in Maisons-Alfort near Paris from one of UBS Global Real Estate's investment funds for around EUR 42 mln. The building, which was acquired for UFG's Multimmobilier 2, Epargne Fonciere and Eurofonciere 2 SCPI listed property funds, consists of nearly 9,000 m2 of office accommodation as well as 145 parking spaces. The asset was developed by a partnership of UBS and local real estate company Sefri-Cime.
UFG Rem has EUR 5.4 bn of real estate assets under management.