Cegereal, the French Core Office REIT : Acquisition of the Hanami campus, 30,000 sq.m of office space in Rueil-Malmaison

Paris, September 5, 2016 - 8:00 a.m.
Permanent information

Cegereal

 Acquisition of the Hanami campus, 

30,000 sq.m of office space in Rueil-Malmaison

Cegereal has signed an agreement with a Dutch company for the acquisition of the Hanami campus in Rueil-Malmaison, the green city in the Western Crescent of Greater Paris.

Located minutes by foot from the RER A train line, which offers direct access to La Défense and downtown Paris, this 30,000 sq.m office complex comprises eight office buildings with a wide range of services spread over 3 hectares on an exceptional, landscaped site on the banks of the Seine. Designed by Valode & Pistre in 1991, it is currently undergoing an environmental audit and extensive refurbishment, which delivery is scheduled for end 2016.

The Hanami campus is leased to first-class tenants (Axens, Vinci Environnement and Brandt) and has an occupancy rate of 91% and an average lease duration of eight years. As part of the transaction, Cegereal valued the site at €152 million, corresponding to a stable rate of return of 6.6%.

The acquisition is scheduled to be completed before the end of the year.

"This first acquisition is a great opportunity offering solid returns," said Raphaël Tréguier, CEO of Cegereal. "This flexible, responsible office complex located within Greater Paris dates back to 1991 but is resolutely modern and open to change. It boasts a range of qualities essential for large companies looking to provide their employees with an efficient workplace that ensures their well-being."