CB Richard Ellis Strategic Partners Europe Fund III, a fund managed by CB Richard Ellis Investors, has announced the acquisition of a ground-up office development program from Meunier Immobilier d'Entreprise, a BNP Paribas company.
The project is located in Le Bourget, in the Northern periphery of Paris, and will be delivered in 2009. The new building will represent a total area of around 20,800 m², including 19,500 m² of office space.
Through this acquisition, CB Richard Ellis Strategic Partners Europe Fund III continues its pan-European acquisition program. The fund portfolio comprises buildings located in the large metropolitan areas of Belgium, Germany and the Netherlands.
On this transaction, the seller was advised by the notary's office Thibierge. The buyer was advised by the notary's office Théret Rebérat. Financing was provided by HSH Nordbank and real estate advice was provided by CB Richard Ellis.
Source: CB Richard Ellis Investors