BNP PARIBAS REIM HAS ACQUIRED FOR A FRENCH AIF THE BUILDING SO OUEST PLAZA FROM UNIBAIL RODAMCO FOR OVER 470 M€
BNP Paribas REIM France announces the acquisition from Unibail Rodamco of the building So Ouest Plaza, located in Levallois-Perret on behalf of a French regulated Fund, the OPPCI VESTAS FRENCH REAL ESTATE, which investor is the Korean institutional investor Vestas Investment Management. This follows a sale agreement signed in February 2017 between the two parties.
Barbara Knoflach, Global Head of Investment Management for BNP Paribas Real Estate says: "This acquisition testifies of our strong internal network to create value for international clients. It illustrates our great ambition to accompany and advise international clients for large deals, in an even more complex real estate market".
So Ouest Plaza is a fully restructured property of more than 40,000 sqm, including 36,500 sqm of office space and a 8-room cinema theatre. The building is fully let to L'Oréal and Pathé with long-term lease contracts. This property benefits from an excellent location in the Eiffel area of Levallois-Perret, just opposite the So Ouest shopping center. It allows an efficient use of the space thanks to the modular trays, has exceptional views on Paris and La Défense, and has obtained the environmental certifications BREEAM excellent HQE exceptional.
Vestas Investment Management and BNP Paribas REIM were advised by BNP Paribas Real Estate Transaction France. Furthermore, the buyer was advised by Wargny Katz and Clifford Chance, and the seller by GINISTY & Associés. The banks DekaBank, La Banque Postale and Berlin Hyp financed the operation on behalf of the buyer.