Commerz Real Expands its Commitment in France

Office Property South-West of Paris Acquired for hausInvest europa

Total investment volume of approx. 80 million euros

Commerz Real acquired the “Cap Sud” office property in Montrouge, southwest of Paris. Only recently completed, the property is earmarked for the hausInvest europa fund. The total investment volume for the building with its state-of-the-art features equals approximately 80 million euros. It was sold by IVG Immobilien AG.

The seven-storey building, which was completed in March 2008, has a gross lettable area of 12,454 m². In addition to office floor space, the property offers gastronomic and storage spaces, as well as 234 slots in the underground car-park. A number of patios and a centrally located atrium highlight the attractiveness of the technically advanced office property. Anchor tenant is Télé Diffusion France (TDF), a radio and TV network operator active throughout Europe.

Situated in the Ile de France region, the economic powerhouse of France, the office property is marked by the enormous potential of the site, which benefits from its great connectivity to public transportation and Orly International Airport. Owing to its superior location and technological flexibility, the property is perfectly suitable for alternative usage options.

“While being a part of the dynamic region of Ile de France, the office markets of Montrouge is defined by above-average growth of the service sector, and with it a high floor space demand,

says Hans-Joachim Kühl, Board Member of Commerz Real AG in charge of real estate acquisitions.

“By acquiring ‘Cap Sud,’ we seized the opportunity to let our open-ended real estate fund, hausInvest europa, benefit from the rent increases that are to be expected on location.”

source : Commerz Real