PARIS-French office REIT/SIIC Compagnie La Lucette has completedthe sale of its Colisee building in Paris to Allianz Real Estate,which was carried out through a purchase of shares in a holdingcompany. The Colisee purchase is reportedly valued at $198million.

Lucette was taken over late last year by larger peer Icade,which is itself controlled by French state financing institutionCaisse des Depots, and the Colisee sale forms part of Lucette’splan to divest $243 million of assets. The 10-story Coliseebuilding in the La Defense business district offers 267,000 squarefeet of office space and is rented to companies including Regus,Expansience and ACE Insurance. It was completed in 1998 and wasacquired by Lucette in 2006.

The transaction is Allianz RE’s second major acquisition inParis this year, following its purchase of the Capital 8 Messineoffice building from Unibail Rodamco. Capital 8 has a totallettable area of 194,000 square feet and is located near ParcMonceau in the heart of the CBD.

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