Principal Global Investors and Atream have jointly acquired the Urban Garden office building in Lyon, France, for more than €150 million ($167 million) from HIG Capital.
The 29,927-square-meter (322,130-square-foot) office building was completed in May 2021 and is fully leased. With five buildings providing premises with the highest standards of specificities, including large open areas, leisure spaces, terraces and external gardens, Urban Garden is perfectly adapted to the evolving occupiers’ needs. Urban Garden also has strong sustainable credentials, excelling in several areas, including a BREEAM Excellent rating, R2S, Biodivercity and Osmoz labels.
“It’s been great to partner in joint venture with Atream on this acquisition,” said Guillaume Masset, president and head of transactions and asset management, Europe, at Principal. “Urban Garden is a prime office asset, let to strong covenants on long leases. Built to high environmental and sustainability sta
