Germany's Union Investment has acquired the Ekla Business development project in the French city of Lille from local listed property developer Icade for €45 mln.

Germany's Union Investment has acquired the Ekla Business development project in the French city of Lille from local listed property developer Icade for €45 mln.

Located in the Euralille 1 district, the office scheme is part of a larger mixed-use development programme including over 23,000 m2 designed by Lipsky & Rollet Architects.

Ekla Business will provide around 14,800 m2 on seven storeys and 250 parking spaces in the immediate vicinity of the Lille-Flandres and Lille-Europe train stations. The project is planned to be completed by the end of 2017.

Union Investment carried out the acquisition on behalf of its Unimmo: Deutschland open-ended real estate fund.