Union Investment sells office property in La Défense, Paris

After a holding period of 13 years, Union Investment has sold the  “Le Wilson” office property, which comprises 14,767 sq m of rental space. The sale generated proceeds of EUR 67.2 million. The buyer is a fund belonging to the French Perial Group. Since the property was acquired in 1999, it has been continuously fully let, thereby delivering stable income for the fund. The holding period also saw an increase in the expert valuation of EUR 10.7 million. The nine-storey building dates from 1992 and is located on the fringes of the La Défense district in Puteaux. The current main tenants are BNP Paribas, Société Générale and Totalgaz.
 
Source : Company