Commerz Real successfully concludes sale of French hausInvest stake in CeGeReal

The real estate portfolio of CeGeReal encompasses three office buildings located on the edge of Paris with a total area of approximately 125,000 square metres: “Arcs de Seine” in Boulogne-Billancourt (completed in 2001, acquired by hausInvest in 2000), “Rives de Bercy” in Charenton-le-Pont (completed in 2003, acquired by hausInvest in 2001) and “Europlaza” in Courbevoie/La Défense (completed in 1999 and acquired by hausInvest in the same year).

“The CeGeReal participation has made a good contribution to the performance of hausInvest over a period of ten years,” says Dr. Andreas Muschter, the Chief Executive Officer of Commerz Real AG. “With the objective of achieving greater diversification we are currently orienting the hausInvest portfolio more strongly to retail, hotel and residential space. So as to ensure hausInvest greater flexibility on the French market and to provide CeGeReal with greater leeway for its further growth, we are exploiting the demand for high-quality office properties and selling the stake. In Northwood Investors the shares are being acquired by a renowned company which fulfils the prerequisites for providing support for the further successful development of CeGeReal.”  

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