"Hamburg-based Union Investment Real Estate AG has acquired a fully let Class-A office building in Mexico City's submarket Santa Fé for its open-ended real estate fund UniImmo: Europa in a sale-and-leaseback transaction worth some 97.3 million US dollars. Completed in 2000, the building offers 24,688 square metres of space, plus parking for 900 cars. "This acquisition adds important growth market exposure to the core European portfolio of UniImmo: Europa," says Dr. Reinhard Kutscher, chairman of the Management Board of Union Investment Real Estate AG.
Santa Fé - an established office market
The building is located in Santa Fe's arterial streets, profiting from close proximity to the motorway, giving fast access both to Toluca in one direction and to the city centre in the other.
Santa Fé is a new peripheral location that owes its popularity to the nearby motorway, the attractive residential area around it, and established shopping and entertainment facilities. Many multinational companies have chosen the area for their headquarters because the available space is exclusively new and comprises large units. Mexico has long been regarded as a favourable production base from which to sell into the US market" (CS della Società).
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