French property firm Unibail and the Whitehall Fund have sold the Coeur Defense office tower west of Paris in a deal that values one of Europe's biggest office blocks at EUR 2.11 bn. Unibail and Whitehall, with a 49% and a 51% stake respectively in SCI Karanis, the company owning the skyscraper, have agreed to sell it to Lehman Brothers Real Estate and Atemi. The transaction still requires approval from antitrust authorities.
French property firm Unibail and the Whitehall Fund have sold the Coeur Defense office tower west of Paris in a deal that values one of Europe's biggest office blocks at EUR 2.11 bn. Unibail and Whitehall, with a 49% and a 51% stake respectively in SCI Karanis, the company owning the skyscraper, have agreed to sell it to Lehman Brothers Real Estate and Atemi. The transaction still requires approval from antitrust authorities.
Coeur Defense comprises 182,000 m2, of which 159,000 m2 is office space. Designed by the French architect Jean-Paul Viguier, the complex was developed and completed in 2001 by Unibail. The company sold a 51% stake in July 2004 to Whitehall, an investment fund managed by Goldman Sachs, for EUR 505 mln.