Cegereal completes the acquisition of the Passy Kennedy building from AG2R La Mondiale
Paris, December 13, 2018 - 8:00 a.m.
CEGEREAL COMPLETES THE ACQUISITION
OF THE PASSY KENNEDY BUILDING
FROM AG2R LA MONDIALE
Cegereal and AG2R La Mondiale today announced the completion of the acquisition of Passy Kennedy, an iconic 23,615 sq.m office building located on the banks of the Seine in Paris' 16th arrondissement.
The acquisition was financed by an €80 million capital increase by Cegereal, with preferential subscription rights for existing shareholders, and a €148.5 million bank loan from Société Générale.
"Cegereal has further expanded its portfolio with the acquisition of this iconic asset - its first in central Paris," said Jérôme Anselme, Cegereal's Chief Executive Officer. "The building is well located on the banks of the Seine and has stable cash flows and a potential for value creation."
Xavier Pelton, Head of Investment, Arbitrage and Asset Management at AG2R La Mondiale, said: "This sale is in line with our strategy of actively managing our real estate portfolio, which involves disposing of certain properties once we have applied our expertise in technical enhancement and asset management."
Cegereal was advised by Attal & Associés, Linklaters, Taj and Artelia for the acquisition; Société Générale, BNP Paribas, Fidal and Allen & Overy for the capital increase; and Attal & Associés and DLA Piper for the bank financing. AG2R La Mondiale was advised by 14 Pyramides for the sale. The transaction was carried out by JLL under a marketing agreement with BNP Paribas Real Estate.
A presentation of the asset is available on the company's website (www.cegereal.com) in the Media Center section.
For more information, contact:
| Cegereal Media Relations |
Aliénor Miens/Alexandre Dechaux
+33 7 62 72 71 15
| Cegereal Investor Relations |
Charlotte de Laroche
+33 1 42 25 76 38
| AG2R La Mondiale Media Relations |
+33 1 76 60 90 30