Allianz Real Estate announces today the acquisition of an office building located at 23-29 rue de Châteaudun in the 9th district of Paris from the French real estate investment trust (SIIC) Gecina.
The transaction was completed on behalf of German companies in the Allianz Group. Gecina is listed on Euronext Paris and owns, manages and develops property holdings worth 11.6 billion (as at June 30, 2012), with 86% located in the Paris region. The two sides have agreed to maintain confidentiality about the purchase price.
The building totals 15,000 m² of office space and also includes 131 parking spaces. Built in 1995, it has been entirely let to the French press group Express-Roularta, which publishes some of the most popular weekly magazines in France and is a subsidiary of the Roularta Media Group.
In this transaction, Allianz Real Estate was advised by the notary's office Uguen Vidalenc & Associés, Gecina by Catella and the notary's office Oudot.
Source: Allianz Real Estate