Marseilles project acquired for EUR 64 mln

Two French financial groups have acquired a 19,800 m[sup]2[/sup] mixed use project in the major urban redevelopment in Marseilles, France for EUR 64 mln from developer Constructa. The finances were provided by Caisse d'Epargne Provence-Alpes-Corse, in association with Crédit Foncier de France. The 'Coeur Méditerranée', designed by architect Jean-Paul Viguier, will consist of a 192-room Ibis hotel, a 127-suite SuiteHôtel , more than 6,000 m[sup]2[/sup] of offices, 1,300 m[sup]2[/sup] of shops and 391 parking spaces. The project is due for completion in 2008.

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