Transactions - JULY 10, 2014

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AG sells 80% stake in €300m Paris office campus

by Andrea Waitrovich

AG Real Estate has agreed to sell a partial interest in Campus Cristal in Paris to Crédit Agricole Assurances and EDF Invest, which will hold 46 percent and 34 percent, respectively. AG Real Estate is retaining the remaining 20 percent as well as property management.

Campus Cristal is located in the Western Crescent submarket of Paris. The commercial site was developed by AG Real Estate France, with a capacity of 914,940 square feet. It comprises 10 buildings around a water garden. It hosts 4,200 employees of Thales Communications & Security. The real estate development is valued at approximately €300 million ($409 million).

Crédit Agricole Corporate & Investment Bank brokered the deal for Crédit Agricole Assurances, while AG Real Estate was advised by CBRE

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