On behalf of the LaSalle French Fund II, LaSalle Investment Management has purchased a development in Bobigny, LEUROPEEN 2, from GA Meunier Immobilier dEntreprises. The asset was acquired for €48 million and reflects a net initial yield of 8.26%.
The development is situated on Avenue Jean Jaures and will be delivered January 2008. It will comprise a total of 19,434 m², including 17,486 m², of high quality offices, 334 parking spaces, a company restaurant and 487 m², of retail space on the ground floor.
LaSalle was advised by Lawyers Depardieu Brocas Mafféi and Office Notarial Nony, Lavigne, Roux. Hypo Real Estate and LaSalle worked as financial partners for the deal.
GA/Meunier Immobilier dEntreprises was advised by Office Notarial Thibierge, Pône, Fremeaux, Palud, Sarazin, Sagaut et Chaput.
Source: LaSalle Investment Management