Transactions - AUGUST 21, 2014

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AEW Europe buys four offices for €301m

by Andrea Waitrovich

AEW Europe, on behalf of institutional clients, has agreed to purchase a four-property portfolio from France-based real estate holding company SIIC de Paris for €301 million ($400 million). The properties are located in Paris and total 289,788 square feet.

AEW Europe declined to comment on the transaction.

The largest and highest priced asset is the 151,105-square-foot property located at 8–20 Rue François Ory. It is 100 percent leased to Mondadori Group. The sales price is €96.8 million, or €641 per square foot ($129.6 million/$858 per square foot).

The second largest and highest priced asset is the 64,584-square-foot office located at 10–12 Rue De Tilsitt, selling for €95.1 million, or €1,472 per square foot ($127.3 million/$1,197 per square foot). 

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