Hammerson, the UK and French real estate investment trust, has announced the sale of the office building at 148, Rue de l'Université, Paris 7ème to a client of Invesco for EUR 84.5 mln. The price marks a 14% discount to the book value of EUR 97.8 mln at end-June 2009. Hammerson said the sale will be reflected in the company's 2009 financial statements.

The property was acquired by Hammerson in 1999 and redeveloped in 2002 to provide 10,300 m2 of modern office accommodation in a seven-storey building. At disposal, the property was 44% vacant and passing rents were EUR 3.9 mln.

CB Richard Ellis advised Hammerson in the transaction.