Amundi Real Estate, Crédit Agricole Assurances and Primonial REIM have partnered to fully acquire Hold (Heart Of La Défense) the owner of the largest office complex in Europe, Coeur Défense.
The trio purchased Hold from an affiliate of Lone Star Real Estate Fund III. Coeur Défense, located at La Défense business district in Paris, tallies more than 159,000m2 of office space.
The financial details of the transaction have not been disclosed.
The complex, designed by French architect Jean-Paul Viguier, was completed in 2001 and includes among others 5 towers linked by an atrium as well as a conference centre.
Jean-Jacques Duchamp, deputy chief executive officer of Crédit Agricole Assurances, commented: “We are proud to announce the acquisition of Europe’s largest commercial real estate complex, which offers today’s highest standards in construction. This complex leased to large French and international companies enjoys a unique location in the top European business district. The acquisition of ‘Cœur Défense’ fits perfectly with our long-term investment strategy”.
Pedro Antonio Arias, director of real and alternative assets at Amundi said: “This symbolic acquisition of ‘Coeur Défense’ is the largest in the French market this year. The asset is fully leased and enjoys excellent benefits in Europe’s top business district. Through this deal, Amundi Real Estate strengthens its position as a key player in the commercial real estate market.”
According to Laurent Fléchet, chairman of the management board of Primonial REIM, “this operation is symobolic, in terms of size, location and the quality of design. We are very pleased and proud to be part of this acquisition alongside Crédit Agricole Assurances and Amundi Real Estate.”