Unibail-Rodamco, Europe's largest listed property owner, has entered into an agreement to sell the So Ouest office building in Levallois-Perret, Paris region, for a net price of over €330 mln.
Unibail-Rodamco, Europe's largest listed property owner, has entered into an agreement to sell the So Ouest office building in Levallois-Perret, Paris region, for a net price of over €330 mln.
The company did not disclose the name of the buyer.
Located right above the So Ouest shopping centre, the asset is a fully refurbished 33,300 m2 office building, fully let since 2014 to business software company SAP France and Pharmaceutical Research Associates on long-term leases. It boasts BREEAM-in-use and HQE environmentally-sustainable certificates.
The asset is part of the urban redevelopment of the So Ouest district. This redevelopment also includes the So Ouest shopping centre inaugurated in October 2012 and the So Ouest Plaza mixed-use development project that features an office tower and a cinema.
The deal is expected to close in the third quarter of 2016.
