Amundi Real Estate, Crédit Agricole Assurances and Primonial REIM announce the 100% acquisition of HOLD (Heart Of La Défense) the owner of the largest office complex in Europe, "Coeur Défense", from an affiliate of Lone Star Real Estate Fund III. This property complex, located at La Défense business district in Paris, has more than 159,000m² of office space.
Built under the direction of the architect, Jean-Paul Viguier, the complex was completed in 2001 and includes 5 towers linked by an atrium:
- 2 towers each comprising 40 floors of office space, with a surface area of 63,952m²
- 3 buildings each comprising 9 floors of office space and retail outlets: the B1 Tower (4,102 m²), the B2 Tower (13,099 m²) and the B3 Tower (14,353 m²).
The complex contains a conference centre (an amphitheatre with a capacity of 270, 7 modular meeting facilities and 2 reception centres), several staff restaurants, a concierge and a fitness centre of 1,000 m². ‘Coeur Défense’ also has a 6 level carpark and space for parking bicycles.
Jean-Jacques Duchamp, Deputy Chief Executive Officer of Crédit Agricole Assurances comments: "We are proud to announce the acquisition of Europe's largest commercial real estate complex, which offers today’s highest standards in construction. This complex leased to large French and international companies enjoys a unique location in the top European business district. The acquisition of ‘Cœur Défense’ fits perfectly with our long-term investment strategy”.
Pedro Antonio Arias, Director of Real and Alternative Assets, Amundi says: "This symbolic acquisition of ‘Coeur Défense’ is the largest in the French market this year. The asset is fully leased and enjoys excellent benefits in Europe’s top business district. Through this deal, Amundi Real Estate strengthens its position as a key player in the commercial real estate market.”
Laurent Fléchet, Chairman of the Management Board of Primonial REIM adds: "This operation is symbolic, in terms of size, location and the quality of design. We are very pleased and proud to be part of this acquisition alongside Crédit Agricole Assurances and Amundi Real Estate."
The purchasers were advised by White & Case, the law firm, Wargny Katz, the notary firm, Fidal, tax consultants, PwC, financial auditors and Nerco Ingénierie, technical auditors.
The seller was advised by Morgan Stanley, Rothschild, JLL, De Pardieu Brocas Maffei for the legal aspects and Franklin for fiscal aspects, Ernst & Young for financial, the Lasaygues notary office and by the auditor Artelia technique.
