PGIM Real Estate has sold the remaining properties in the M Campus real estate complex in Meudon, France, on behalf of its closed European Value Partners fund. PGIM Real Estate is the real estate investment and financing business of PGIM, the US$1.5 trillion global investment management business of Prudential Financial, Inc.. (NYSE: PRU).
Acquired in 2018 as part of PGIM Real Estate’s European value-add strategy, M Campus is a 45,000 sqm property complex divided into six buildings. Four buildings with a surface area of more than 21,000 sqm were fully leased to Thales in 2020 under a 12-year firm lease and sold to Primonial in the same year.
The remaining two properties most recently sold have a total surface area of approximately 24,000 sqm and are occupied by leading tenants such as Capgemini and Thales, with Vallourec and HP establishing their headquarters in the building by signing long-term leases in 2021.
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