CBRE’s Belgian, French and EMEA Capital Markets teams have assisted GLL Real Estate Partners with the sale of a two-asset portfolio located in Brussels and Paris to Generali Real Estate S.p.A., one of the world’s leading real estate asset managers.
Montoyer 47 is a mixed use (office/ retail) landmark corner building that was fully refurbished in 2006. Located in the European district. It measures 8,980 sqm and is currently leased to a set of diversified tenants.
Atrium Bercy is a modern and efficient office building sitting at the heart of one of Paris’ core business districts, Bercy. Covering a surface of 11,500 sqm, it has been fully rented to the French Ministry of Finance since its unveiling, in 1998.
This operation allows Generali Real Estate to strengthen its presence in Brussels’ real estate market, currently one of Europe’s most attractive ones for institutional investors, as well as to further diversify its Paris portfolio by investing in an area that recorded an average vacancy level of 2.6% in the first quarter of the year.
GRE was advised by Etude Dauchez, Fairway, Baker & Mckenzie, Ernst & Young, BST, Theop and Arcadis, while GLL was advised by CBRE, Cushman & Wakefield, Gide, Arsene Taxand & Wargny Katz, Exponens and Drees & Sommers.
GLL Real Estate Partners is the real estate equity investment platform for Macquarie Infrastructure and Real Assets, a division of the Macquarie Group. A globally-active real estate fund manager and investment advisor headquartered in Munich, Germany, GLL operates 16 offices in 12 countries across the US, Europe, Asia, and Australia. The group currently manages EUR 7 billion, including more than EUR 3,2 billion in Europe. GLL employs varying commercial property strategies serving an investor group that includes pension funds, insurance companies and sovereign entities.
About Generali Real Estate S.p.A.
Generali Real Estate S.p.A. is one of the world’s leading real estate asset managers with €28.7 billion of assets under management as of end of March 2018.
By managing a unique mix of historical and modern properties, Generali Real Estate as developed best-in-class skills in the fields of technological innovation, sustainability and urban development.
Generali Real Estate is part of the Generali Group, an independent Italian Group with a strong international presence. Established in 1831, it is among the world’s leading insurers and it is present in over 60 countries with total premium income exceeding €68 billion in 2017.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2019 revenue). The company has more than 100,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 530 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services.
In Belgium, more than 500 employees, operating from our offices in Brussels, Antwerp and Diegem, have been advising our clients on commercial real estate for more than 50 years.
