Hamburg-based fund manager Union Investment Real Estate has sold Le Wilson office building in the financial district of Paris to a fund managed by Perial.
Hamburg-based fund manager Union Investment Real Estate has sold Le Wilson office building in the financial district of Paris to a fund managed by Perial.
The French asset manager is paying over €67 mln for the 14,770 m2 asset, which was bought by Union’s Unimmo: Deutschland fund in 1999. During its 13-year holding period, Unimmo: Deutschland was able to raise the value of the asset by nearly €11 mln.
‘Le Wilson is a success story for Unimmo:Deutschland,’ commented Reinhard Kutscher, chairman of Union Investment Real Estate. ‘Against the background of current developments at La Défense we have chosen an ideal time to sell the property,’ he added.
Built in 1992, the nine-storey office building is located on the outskirts of La Défense and is fully let to tenants including BNP Paribas, Société Générale and Totalgaz.
