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| Commerz Real expands in France Commerz Real signed the deed of purchase for the "Porte de Clichy" office development located in France. The total investment volume amounts approximately 87 million euros. The project development, which has a planned lettable area of 13,000 m², was sold by the Paris-based real estate developer Europequipments SAS. Following its completion, Commerz Real will add the office building to the portfolio of its hausInvest europa open-ended real estate fund. With its acquisition of "Porte de Clichy", Commerz Real continues its lively buying activity of last year. Meanwhile, the fund volume of hausInvest europa has crossed the 10 billion euro mark. Commerz Real AG, a fully-owned Commerzbank AG subsidiary, was created by the merger of Commerz Grundbesitz Gruppe and CommerzLeasing und Immobilien AG. At 44 billion euros in assets under management, the merger created one of the world's largest property asset managers and providers of leasing and investment solutions. write your comments about the article :: © 2008 Construction News :: home page |