ING Real Estate acquires three prime properties in France for its European funds

ING Real Estate recently acquired two office properties in France for approximately EUR 70 million on behalf of the ING Real Estate Office Fund:

Le Millenium 1, a multi-tenant building covering 6,873m² of office space and 110 parking spaces, located in the city centre of Bordeaux. The building has been fully let to six tenants.
L’Open Building providing 8,028m² of prime office space across eight floors and a sixlevel underground car park. The building is located in the Forum Seine area of Issy-les- Moulineaux, south west of Paris. The main tenant CMP Medica occupies 75% of the building. The two other tenants are Oxya and A.P.C.
The company has also acquired a Gazeley Canly, a new grade A state-of-the art logistics centre covering 23,819m² located in Canly, Oise, 60 kilometres north of Paris. The building has been fully let to Recall France SA and provides 22,066m² GLA of logistics warehouses, 994 m² GLA of offices, a 759 m² technical zone, parking spaces for five heavy goods vehicles and a car park for over 85 cars. The building was acquired for approximately EUR 17 million from the Gazeley and CalEast Global Logistics joint venture on behalf of the ING Real Estate European Industrial Fund.

Commenting on the acquisitions, Leo Weidenaar said: “We are delighted that we have been able to secure these top quality properties in prime locations across France. As a major player in Europe, France is a key market for our European fund business. The acquisition of these three properties will enable us to reinforce our presence in that country.”