Ampega Asset Management Secures First Pan-European Office Real Estate Investments in Paris and Brussels

Ampega Asset Management GmbH has successfully completed its first two European direct real estate investments for a group company. Together with Savills Investment Management (Savills IM), two core office properties in Paris and Brussels were acquired. In addition, there is interest in further expanding the portfolio with attractive properties in the current market environment.

ImageSource: AG Real Estate

Under the mandate, Savills IM is responsible for the asset and investment management of the office portfolio, which focuses on prime locations in Paris, Brussels, Amsterdam, Vienna, and Luxembourg. Additionally, Savills will provide property management services for the acquired assets.

The Paris property is located on Rue de Richelieu in the 2nd arrondissement. The office building was completely renovated in 2020 and offers approximately 3,500 square meters of modern office space. It is fully and long-term leased to a leading international media company with renowned brands in the luxury, lifestyle and fashion sector and holds HQE ‘Excellent’ and BREEAM ‘Very Good’ sustainability certifications. The seller of the property was Oreima. Technical & ESG due diligence was conducted by JLL, legal due diligence by Gide, and notarial due diligence by Screeb. Oreima, the real estate arm of InfraVia, was advised by BNPP RE.

In Brussels, the ‘Arts Lux’ office building was acquired in the prestigious Quartier Léopold, also known as the European Quarter. The property was fully refurbished in 2013 and holds a BREEAM In-Use ‘Outstanding’ certification. It comprises approximately 17,300 square meters of office space and 1,100 square meters of retail space, all fully leased. The seller was AG Real Estate, on behalf of AG Insurance SA. Legal due diligence was conducted by A&O Shearman, technical & ESG due diligence by ProGroup. Deloitte handled the tax due diligence and structuring for both acquisitions. AG Real Estate SA 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,” said Jürgen Weigl (Head of Direct Real Estate Investments/ Finance) for Ampega Asset Management GmbH. “In the current market environment, we are seeing compelling opportunities to invest in core assets at attractive conditions, which supports our strategic expansion across 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 real estate portfolio for Ampega Asset Management. The recent market adjustments have created attractive opportunities, making this an ideal time to build a prime portfolio. With our strong on-site team in Paris and the extensive local expertise, we were able to identify the acquisitions in Paris and Brussels and secure them for the mandate.”