Union Investment sells Eiffage HQ in France to NAMI-AEW Europe (DE/FR)

Union Investment has sold the 9-story Eiffage Headquarters, 163 Quai du Docteur Dervaux, in Asnières-sur-Seine for €28.6 million. The sale price is in line with the current valuation of the property.

New owners are two French Investment funds, SCPI Laffitte Pierre and Fructirégions, managed by NAMI-AEW Europe. Euragone – supported by Jones Lang LaSalle - advised Union Investment on marketing the property and Nicolas BAUM was a consultant for the purchaser.

The building comprises some 5,633 m² of contemporary office space and is the Headquarter of the French construction and concession company Eiffage since 2005. Union Investment acquired the building in 2005 for its open-ended real estate fund Immo-Invest: Europa which holds three more office properties in Paris.

"Current market conditions are throwing up a host of good mature selling opportunities in France that we are eager to leverage for our funds," says Dr. Karl-Joseph Hermanns-Engel, a member of the management board of Union Investment Real Estate GmbH.

Source: Union Investment

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