March 12, 2018

PARIS, March 12, 2018 – PGIM Real Estate has signed an agreement to acquire M Campus, a 45,000-square-meter office campus in Meudon, on the outskirts of Paris. PGIM Real Estate, acting on behalf of its Pan-European discretionary fund and an institutional co-investor, is the real estate investment business of PGIM, Inc., the $1 trillion global investment management businesses of U.S.-headquartered Prudential Financial, Inc. (NYSE: PRU).

   

“This acquisition of a grade A office campus provides our investors a well-balanced mix of income yield and the opportunity to create value through leasing up the recently renovated buildings.”

Jocelyn de Verdelon,
Head of France, Spain & Portugal

   
   

 

   
   

Learn more about

PGIM Real Estate:

www.pgimrealestate.com

 
   
Join the conversation and follow us @PGIM on Twitter  
   

The property was purchased from a joint venture between Norges Bank Real Estate Management and AXA France, represented by AXA Investment Managers – Real Assets.

The office campus, comprised of six Class A office buildings, sits along the banks of the Seine and less than 500 meters from the Boulogne Trapèze office district, opposite Seguin Island. The campus was completed in 2006; two of the office buildings were recently renovated and will receive a BREEAM RFO Good certification for sustainable design. The remaining buildings are fully let to a global business.

Jocelyn de Verdelon, Head of France, Spain & Portugal for PGIM Real Estate said, “This acquisition of a grade A office campus provides our investors a well-balanced mix of income yield and the opportunity to create value through leasing up the recently renovated buildings. The location of this asset offers an ideal solution for tenants seeking access to the Boulogne Trapèze district.”

Cheuvreux, De Pardieu Brocas Maffei and Builders & Partners advised PGIM Real Estate on this acquisition. AXA Investment Managers – Real Assets was assisted by Wargny Katz and Knight Frank as part of a co-exclusive mandate with CBRE.

 

About PGIM Real Estate
PGIM Real Estate is the real estate investment business of PGIM, Inc., Inc., the global investment management businesses of Prudential Financial, Inc. (NYSE: PRU). Redefining the real estate investing landscape since 1970, PGIM Real Estate has professionals in 18 cities in the Americas, Europe and Asia Pacific with deep local knowledge and expertise, and gross assets under management of $69.6 billion ($49.9 billion net) as of Dec. 31, 2017. PGIM Real Estate’s tenured team offers to its global client base a broad range of real estate equity, debt and securities investment strategies that span the risk/return spectrum. For more information, visit pgimrealestate.com.

Prudential Financial, Inc. of the United States is not affiliated with Prudential plc, a company headquartered in the United Kingdom.

 

About PGIM, Inc.

With 15 consecutive years of positive third-party institutional net flows, PGIM, Inc., the global asset management businesses of Prudential Financial, Inc. (NYSE: PRU), ranks among the top 10 largest asset managers in the world with more than $1 trillion in assets under management as of Dec. 31, 2017. PGIM, Inc.’s businesses offer a range of investment solutions for retail and institutional investors around the world across a broad range of asset classes, including fundamental equity, quantitative equity, public fixed income, private fixed income, real estate and commercial mortgages. Its businesses have offices in 16 countries across five continents.

Prudential Financial, Inc.’s additional businesses offer a variety of products and services, including life insurance, annuities and retirement-related services. For more information about PGIM Inc., please visit pgim.com.

© 2018 PGIM is the primary asset management business of Prudential Financial, Inc. (PFI). PGIM Real Estate is PGIM’s real estate investment advisory business and operates through PGIM, Inc., a registered investment advisor. Prudential, PGIM, their respective logos as well as the Rock symbol are service marks of PFI and its related entities, registered in many jurisdictions worldwide. PFI of the United States is not affiliated with Prudential plc, a company headquartered in the United Kingdom. Ref: 18BDUFF- AWNJXL

Contact(s)

Brendan Duffy

973-802-5711

brendan.duffy@prudential.com