URW: sale of Gaîté-Montparnasse offices

(CercleFinance.com) - Unibail-Rodamco-Westfield (URW) announces the sale of the office component of the Gaîté-Montparnasse mixed-use complex in Paris, to a joint venture between Norges Bank IM and Swiss Life Group for a total acquisition cost of €172.
5 million.

The transaction reflects a 4% discount to the last unallocated book value. These 12,500 m² offices, 100% leased to Wojo, Accor's coworking operator, were completed in 2022 as part of a major redevelopment project.

Subject to the usual conditions precedent, the transaction is expected to be finalized in the fourth quarter of 2024. With this operation, the real estate group has completed or secured 0.8 billion euros of transactions in 2024.

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