hausInvest europa fund achieves more than €600m for four properties in Paris (FR)

CGI's hausInvest europa fund has achieved more than €600m for a portfolio of four properties in the French capital, reports EuroProperty in its December issue. Tishman Speyer has acquired two of the assets; it paid €300m for the multi-let, 30,000m2 Paris Börse building at 111-115 Rue de Réaumur, according to a source. The US property company also paid €100m for the 15,000m2 EuroSquare 1 at 151-161 boulevard Victor Hugo in the northern suburb of St Ouen. Both deals reflected an initial yield slightly above 5.5%.

German fund manager KanAm is to complete a purchase contract shortly on the two other properties: 7/9 on avenue de Messine, let to Axa and bank KBL, for around €124m, reflecting a yield of 5.8%; and the 26,000m2, multi-tenanted River Plaza, at 29 Quai Aulagnier, Asnieres, in the western business district, which is expected to fetch around €140m, reflecting a yield of around 5.4%. The main tenant is L'Oreal. Tishman Speyer and KanAm declined to comment. CGI put the €600m-plus portfolio on the market this summer. Atisreal advised CGI.

Source: EuroProperty

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