Owned by Union Investment since June 2004, “Le Cap”, an approximately 10.000 m² office building located in the French CBD La Défense, has been acquired by LBO France.
With about 10 000 m² of office spaces over 9 floors, this independent building, non high-rise, let to Société Générale, benefits from a strategic position in the La Défense real estate market.
“This transaction perfectly responds to Union Investments objectives. It shows the depth of the Paris-La Défense real estate market, which continues to offer excellent opportunities for well-let classic buildings,” indicated Dominique Dudan, President of Union Investment Real Estate France.
“Through this transaction, LBO France has taken a position in La Défense, via a non high-rise, independent and fully let building, combining immediate yield and the perspective of value creation in the context of a rapidly evolving market,” added Stéphanie Casciola, Head of Real Estate at LBO France.
In this transaction, Union Investment was advised by Laurent Hosana of Etude C&C Notaires and LBO France by Sylvie Burthe-Mique of Etude Monassier.
Source: LBO France