Ampega Asset Management GmbH has successfully completed the first two real estate investments in Europe for a group company. Together with Savills Investment Management (Savills IM), two core office properties in Paris and Brussels were acquired. In addition, it is intended to expand the portfolio with further attractive properties in the current market environment.
As part of the mandate, Savills IM will take over the asset and investment management of the office portfolio – with a focus on prime locations in Paris, Brussels, Amsterdam, Vienna and Luxembourg. In addition, Savills will take over the property management of the acquired properties.
The property in Paris is located on Rue de Richelieu in the 2nd arrondissement. The office building was completely renovated in 2020 and offers around 3,500 square meters of modern office space. It is fully leased on a long-term basis to a leading international media company with brands in the luxury, lifestyle and fashion sectors and has the HQE "Excellent" and BREEAM "Very Good" sustainability certifications. The seller of the property was Oreima. The technical and ESG due diligence was carried out by JLL, the legal review by Gide and the notarial due diligence by Screeb. Oreima, the real estate arm of InfraVia, was advised by BNPP RE.
In Brussels, the "Arts Lux" office building in the renowned Quartier Léopold, also known as the European Quarter, was acquired. The property was extensively revitalised in 2013 and has a BREEAM In-Use certification with the top rating of 'Outstanding'. It comprises around 17,300 square metres of office space and 1,100 square metres of retail space, which are fully let. The seller was AG Real Estate, acting on behalf of AG Insurance SA. The legal due diligence was carried out by A&O Shearman, the technical and ESG due diligence by ProGroup. Deloitte was responsible for the tax due diligence and structuring of both transactions. AG Real Estate was advised by CBRE.
"With the two acquisitions in Paris and Brussels, we have reached an important milestone and laid the foundation for building a high-quality European office portfolio," explained Jürgen Weigl, Head of Direct Real Estate Investments/ Finance at Ampega Asset Management GmbH. "In the current market environment, attractive opportunities are opening up to invest in core properties at attractive conditions. This strengthens our strategic expansion in key European cities."
David Seydt, Associate Director Fund Management at Savills Investment Management, added: "We are very pleased to have been mandated to build and manage the core office portfolio for Ampega Asset Management. Recent market adjustments have created attractive opportunities – an ideal time to build a prime portfolio. Thanks to our strong local team in Paris and our extensive local expertise, we were able to identify the acquisitions in Paris and Brussels and secure them for the mandate."
