LBO France has acquired Le Cap, a 10,000 square metre office building located in the French CBD La Défense, which has been owned by Union Investment since June 2004.
With nine floors, the independent building 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,” says 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,” says Stéphanie Casciola, head of real estate at LBO France.
Union Investment was advised by Laurent Hosana of Etude C&C Notaires and LBO France by Sylvie Burthe-Mique of Etude Monassier.