«Commerz Real just acquired the “Le Flavia” office scheme in Ivry-sur-Seine near Paris. The property – which has a gross lettable area of 16,400 sqm and is fully let on a long-term lease – was completed in January 2008. The total investment volume of the acquisition, which is earmarked for the “hausInvest europa” open-ended real estate fund, approximated 72 million euros. Seller is GE Real Estate France. The Paris-based consulting firm Estate Consult facilitated the acquisition.
“Le Flavia” is let to FNAC, the market leader in entertainment product sales in France, Belgium, Spain and Portugal. The company relocated its headquarter to this property.
Ivry-sur-Seine is located southeast of Paris and boasts an outstanding infrastructure. The area is located just a few kilometres from the Central Business District of Paris, and is easily reached from there by public transportation». (CS della Società)
