Fairway advised Generali Real Estate on the acquisition of a portfolio composed of two assets, located in Paris and Brussels, from GLL Real Estate Partners and on behalf of two entities of the Generali group.
Atrium Bercy is located in Bercy, which is one of the main business districts of Paris. This modern office building of 11,500 sq.m is fully let to the French Ministry of Finance since its inauguration in 1998.
Montoyer 47 is a mixed-use building (office/retail) of 8,980 sq.m and is rented to a group of diverse tenants. The building is located in the European district of Brussels and was completely renovated in 2006. In addition, Generali Real Estate manages another asset in the neighborhood, an office building of 6755 sq.m located 62, rue de la Loi.
The press release specifies that “this transaction enables Generali Real Estate to strengthen its presence in the Brussels real estate market, which is currently one of the most attractive real estate markets in Europe for institutional investors, as well as to continue to diversify its Parisian portfolio by investing in an area which displayed an average vacancy rate of 2.6% in the first quarter of the year. “