The office property Minéralis in Montrouge near Paris, purchased by MEAG in May 2007 for its real estate fund MEAG EURO PRO, is fully let as of 1 August 2007. A lease contract for the building's total floor space of 15,000 m² and 300 underground parking spaces has been closed with the French publisher Bayard Presse for a 12-year term. The building will be Bayard's new headquarter.
Artist impression of Minéralis.
For the letting process, the vendor The Carlyle Group was advised by Cushman & Wakefield and Bayard Presse by Atisreal.
MEAG MUNICH ERGO AssetManagement GmbH in Munich is the asset manager for Munich Re and ERGO Insurance Group. With offices in New York and Hong Kong, MEAG has an international orientation and also manages the assets of clients outside the Munich Re Group. MEAG currently manages assets to the value of around €182 billion, of which around €13 billion are held in real estate.