AG Real Estate France is selling two parking garages valued at around €47 million ($45 million) to Catella Real Estate AG (CREAG), a German investment fund.
The two parking garages are in prime locations in Paris — the first on Avenue Kléber in the 16th arrondissement, and the second under the Marché Saint-Germain in the 6th arrondissement, both operated by the Indigo group.
The two underground car parks have a total of nearly 690 public parking spaces and are open to annual and monthly subscribers, as well as daily visitors.
The Kléber car park consists of five basement levels beneath a Haussmann-style building, situated in a residential area, close to major Parisian avenues and numerous tourist hotspots (Palais de Tokyo, Palais de Chaillot, Place du Trocadéro, Arc de Triomphe, Eiffel Tower, etc.). It has a standard layout, with accesses onto Avenue Kléber, which is a major advantage. The garage has 279 spaces.
The Marché Saint-Germain car park