Bouwfonds Marignan Immobilier has announced the sale of two office development projects in France for a total of EUR 168 mln. The French development arm of Dutch group Rabo Real Estate has sold Le Skalen in Châtillon, Hauts-de-Seine, to a fund managed by Area Property Partners for a price of EUR 133 mln. It also anticipated the sale of the B. Initial office project in the Parisian suburb of Montreuil to the Notapierre SCPI investment vehicle, managed by B&C Asset Management, for EUR 55 mln.

Le Skalen, located in the vicinity of the Châtillon-Montrouge metro station, offers nearly 25,000 m2 of office space and 394 underground parking spaces. Delivery of the High-Quality Environmental (HQE) building is planned for June 2013.

The HQE-certified B. Initial project will offer nearly 12,000 m2 of office accommodation and 135 parking spaces on completion in early 2013. It is being developed in partnership with Spie Batignolles Immobilier and was designed by architects Hubert Godet.

Bouwfonds Marignan Immobilier said it expects to sign the sales agreement by the end of July. Construction is planned to start in September this year.