PARIS 18 September 2020 – CBRE Global Investors, on behalf of a separate account client, has sold the Antares office building in Paris to an institutional client of DTZ Investors.
Antares is a modern, high-quality office building in the highly regarded Boulogne-Billancourt area to the west of central Paris. The 10,442 sq m, eight-storey property was built in 2001 and was acquired by CBRE Global Investors, on behalf of its separate account client, in 2007. It has been comprehensively refurbished under CBRE Global Investors’ ownership and is fully let to Hilti, the international technology, software and services provider to the construction industry, on a long-term lease.
Martijn Hop, Senior Portfolio Manager, CBRE Global Investors, said: “Having made significant improvements to this property and secured a blue-chip tenant at a strong rent, now was a good time to sell, delivering an impressive return for our client after successfully executing our business plan.“
Gautier Beurnier, Head of Transactions France, CBRE Global Investors added: “Notwithstanding the coronavirus pandemic, the Paris market remains fundamentally strong, having emerged as a destination for foreign capital and with continued low vacancy rates.”
CBRE Global Investors is a leading investor in offices, with a total AUM of €8.3 billion in EMEA at 30 June 2020. This comprises a total of 990,000 square metres across 13 countries, including the United Kingdom, the Netherlands, Germany, Spain, Poland, Italy and France.
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About DTZ Investors
DTZ Investors is a specialist real estate investment manager that is a wholly owned but independent part of the Cushman & Wakefield group. The firm manages €10 billion of real estate in Europe across more than 370 assets. DTZ Investors manages real estate investments on behalf of a variety of institutional investors, value-add fund managers and pension funds.
About CBRE Global Investors
CBRE Global Investors is a global real assets investment management firm with $109.6 billion in assets under management* as of June 30, 2020. The firm sponsors investment programs across the risk/return spectrum for investors worldwide.
CBRE Global Investors is an independently operated affiliate of CBRE Group, Inc. (NYSE:CBRE). It harnesses the research, investment sourcing and other resources of the world’s largest commercial real estate services and investment firm (based on 2019 revenue) for the benefit of its investors. CBRE Group, Inc. has more than 100,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 530 offices (excluding affiliates) worldwide. For more information about CBRE Global Investors, please visit www.cbreglobalinvestors.com
*Assets under management (AUM) refers to the fair market value of real assets-related investments with respect to which CBRE Global Investors provides, on a global basis, oversight, investment management services and other advice and which generally consist of investments in real assets; equity in funds and joint ventures; securities portfolios; operating companies and real assets-related loans. This AUM is intended principally to reflect the extent of CBRE Global Investors’ presence in the global real assets market, and its calculation of AUM may differ from the calculations of other asset managers.