Barings has expanded its European core real estate portfolio with the acquisition of a fully leased 8,275sqm office building in Paris.
The manager has acquired the office building, located in front of the city’s former stock exchange, from an unnamed French institutional investor.
The property management will be carried out by Cushman & Wakefield, and the asset will be held in an OPPCI managed by Edmond de Rothschild.
Guillaume Bieganski, managing director and country head for France at Barings Real Estate, said: “The market continues to see strong demand for modern, flexible and ESG-compliant office space in central Paris. Combined with limited grade-A stock, this has driven continued rental growth.
“Offices in city-centre locations with the ability to generate additional value remain highly attractive to us, and we will continue to pursue similar opportunities going forward.”
Gunther Deutsch, managing director and head of real estate transactions Europe at Barings Real Estate, said: “This acquisition marks the largest office acquisition Barings has executed in the past five years and reinforces our commitment to offices in prime European city centres, whether existing assets with upside potential or as a partner for entirely new developments.
“The office sector, together with the living and logistics sectors, remains a key area of focus for us. We will continue to look for similar acquisitions in the Nordics, the Netherlands, Germany, UK, Italy, France and Spain throughout the year on behalf of our core, core-plus and value-add capital sources.”
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