MGPA and Générale Continentale Investissements sell Le Balthazar

MGPA and Générale Continentale Investissements (GCI) today announced the sale of Le Balthazar, a 32,700 m² office complex located in Saint-Denis, France, to two institutional investors, advised by AEW Europe in the context of a club deal.

Situated on the Place des Droits de l’Homme in the Saint-Denis business district just North of Paris, Le Balthazar is next to the RER B station. Designed by renowned US architect Richard Meier, the complex is composed of two independent seven-floor wings linked by a glass atrium, as well as 430 parking spaces on two underground levels. Le Balthazar is certified HQE, the French standard for high quality environmental buildings.

Le Balthazar is let to France Telecom. Café Jules and Sushi Shop each occupy commercial space on the ground level. The complex is 100% occupied.

This transaction was realised by Stratégies & Corp and Jones Lang LaSalle. L’Etude Wargny Katz and Gide Loyrette Nouel advised the seller. L’Etude Thibierge & Associés and Freshfields Bruckhaus Deringer LLP advised the buyer.