Transactions - AUGUST 4, 2015

To read this full article you need to be subscribed to Newsline.

Sign in Start Your Free Trial Now View Purchase Options

Union Investment sells €1b pan-European real estate portfolio

by Andrea Waitrovich

French firm Amundi Immobilier is acquiring the €1 billion ($1.1 billion) Aqua portfolio from Union Investment Real Estate. The transaction is expected to close during the fourth quarter 2015.

The Aqua portfolio comprises 17 office properties with approximately 3 million square feet of rental space in six Western European countries, with 75 percent located in the United Kingdom (specifically London, Glasgow and Cardiff), France (specifically Paris) and Germany (specifically Ismaning, Ratingen, Frankfurt/Main). Other locations are Vienna, Helsinki and Rotterdam.

The properties generate annual gross rental income of around €60 million ($66 million). At the time of sale, 96.6 percent of the space was leased, and the portfolio is broadly diversified across 145 office tenants.

The portfolio also features a high level of diversification by bringing together properties worth between €25 million and €147 million ($27 million and $161 millio

Glossary, videos, podcasts, research in the Resource Center

Forgot your username or password?

Close your account?

Your account will be closed and all data will be permanently deleted and cannot be recovered. Are you sure?

We respect your privacy! Please give consent for processing data as described in our Privacy Policy