Cushman & Wakefield Investors Acquire Paris Office Asset on Behalf of KGAL
5 Oct, 2010, London
On behalf of KGAL GmbH & Co. KG (KGAL), Cushman & Wakefield Investors has completed the forward purchase of a 20,000 sqm office building at 207 rue Carnot, Fontenay Sous Bois in Paris for €88 million.
The asset is fully leased to BNP Paribas on a nine year firm lease. The building will be completed during October 2010.
This is the first acquisition for KGAL in France and is part of a long-term strategy to grow its real estate holdings in Europe. The building will complement its existing European portfolio, which is principally concentrated in Germany, Austria and UK.
Cushman & Wakefield Investors is the exclusive advisor to KGAL in France. Freshfields Bruckhaus Deringer LL and Jusot & Associés were the legal advisors for the purchaser.