Munich Ergo AM Offloads Paris Office

German insurer Munich Ergo Asset Management has sold Le Minéralis office building in the southern Paris suburb of Montrouge to La Française Real Estate Managers.

German insurer Munich Ergo Asset Management has sold Le Minéralis office building in the southern Paris suburb of Montrouge to La Française Real Estate Managers, PropertyEU reports. The French fund manager has paid €101 million for the acquisition.

Developed by The Carlyle Group, the office is let to one tenant with a 12-year rental contract running to 2019. The buyer was advised by law firms Gourret and 14 Pyramides, whereas CBRE Capital Markets acted for the vendor.

Click here for the release from PropertyEU.