Sunday, February 25, 2007

Assystem HQ in France Sold for EUR 40 Million

Europe Real Estate - February 23, 2007

For its DEGI INTERNATIONAL fund, the real estate investment manager DEGI Deutsche Gesellschaft für Immobilienfonds mbH is investing around €40 million in an office project in Saint Quentin en Yvelines within the metropolitan region of Île-de-France.

In a sale-and-lease-back procedure, DEGI is acquiring the project development package, fully let in advance, from the subsequent user Assystem, a leading international group in the field of engineering and innovation consultancy.

The L-shaped building, with a total area of 11,088 m², is accessed by two core areas, and features five floors above ground plus a two-story underground car park and a restaurant for employees. Divisible stories would enable the property also to be let in small sections. Completion of the office building is scheduled for the third quarter of 2008.

The location is conveniently situated for transport access: 200 metres away is a station connecting to the suburban railway network (RER) of the Paris metropolitan region. The slip-roads to the A12 and A13 motorways are about one kilometre away. Sphere: Related Content

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