Amundi Immobilier acquires €1bn pan European property portfolio

Amundi Immobilier, property management branch of Amundi’s group, has recently acquired a €1bn Aqua property portfolio from Union Investment Real Estate.

The portfolio includes 17 office properties with approximatively 278,000sq m of rental space, widespread in six countries. It is expected to be transfered to Amundi in the fourth quarter of 2015.

Some 75% of the properties are located in UK (London, Glasgow, Cardiff), France (Paris) and Germany (Ismaning, Ratingen, Frankfurt/Main). Other locations are Vienna, Helsinki and Rotterdam.

The portfolio comprises notably the Duetto Business Park in Helsinki, Nord 1 in Frankfurt’s Europaviertel district, and Westferry Circus in Canary Wharf, London.

Union Investment said the properties generate annual gross rental income of around €60m and that 96.6% of the space was let when came the sale.

“The portfolio also features a high level of diversification by bringing together properties worth between €25 million and €147 million. The average property value is approximately €50m, while the average age is slightly above ten years,” Union Investment commented.

“This high profile transaction illustrates the increasingly important role Amundi is aiming to play in real estate”, said Pedro Antonio Arias, global head of Alternative Assets (private equity and real estate) of Amundi.

Amundi has currently around €9.2bn assets invested in real estate.

Adrien Paredes-Vanheule
Adrien Paredes-Vanheule is deputy editor and French-Speaking Europe Correspondent for InvestmentEurope, covering France, Belgium, Geneva and Monaco. Prior to joining InvestmentEurope, he spent almost five years writing for various publications in Monaco, primarily as a criminal and financial court reporter. Before that, he worked for newspapers and radio stations in France, in particular in Lyon.

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