Commerz Real successfully concludes sale of French hausInvest stake in CeGeReal

Commerz Real has concluded the process for the sale of the French REIT stake held by its open-ended real estate fund hausInvest. The stake of 59.78 per cent in the Paris-based company CeGeReal has been purchased by Northwood Investors. The sale is taking place at a price of 35.62 euros per share; the offer price will be subject to standard adjustments based on financial statements as of the date of the acquisition completion (5 November 2015).

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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About Commerz Real
Commerz Real is a fully-owned subsidiary of Commerzbank AG with more than 40 years of market experience and approximately 31 billion euros in assets under management. The company combines comprehensive know-how in asset management and a broad-based structuring expertise to deliver its signature range of services of fund products focused on tangibles and bespoke financing solutions. The fund spectrum includes the open-ended real estate fund hausInvest, institutional investment products as well as entrepreneurial participations in real estate, aircraft, regenerative energy and ships. In its role as leasing company of Commerzbank Group, Commerz Real offers tailored equipment leasing concepts along with bespoke financing arrangements for assets such as real estate, big-ticket equipment and infrastructure projects.

Press contact Commerz Real: 
Markus Esser 
Leiter Kommunikation
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Karolina Müller 
Stellv. Leiterin Kommunikation
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