Viveris REIM buys EUR 65m office building from Gecina

French investment manager Viveris REIM said that it has acquired a new office building in the Montrouge area of Paris from Gecina for EUR 65 mln. The 10,500-m² scheme was purchased on behalf of Viveris Reim's SPPICAV Delta Immo vehicle.

The property is fully leased to Locaposte, part of La Poste Groupe, which also uses the restaurant and the 197 parking spaces.

'In pursuing its ambitious acquisition programme the asset management team of Viveris REIM is particularly vigilant in terms of quality of the office and retail sectors,' said Henri Remond, executive director in charge of asset management at Viveris REIM. The buyer was advised by notary firm Vincent Gerard while Wargny & Katz advised Gecina.

Gecina said that the sale is in line with its asset disposal programme, with EUR 117 mln of office property being divested so far this year. The French SIIQ has recently disposed of three office buildings, two of which total 17,000 m² and are located on Boulevard Romain Rolland in Montrouge. A third is located in Paris' 14th district and has a surface area of 3,700 m².

The company has a full-year disposal target of EUR 180 mln. 'In view of the preliminary sales agreements in place and operations subject to due diligence, representing over EUR 60 mln, the group's management is very confident about the implementation of this arbitrage programme,' it added.