Cromwell Property has bought a 1,500sqm office building in France’s capital on behalf of an unnamed foreign investor.
Cromwell said has paid an undisclosed sum to by the fully let core office asset located at 7 rue de la Baume in Paris’ 8th arrondissement.
Diego Roux, head of acquisition and disposals in France, at Cromwell Property, said: “Acquired through a complex share-deal, this investment highlights our ability to source office assets in the sought-after Paris CBD sector where transactions are rare, while also demonstrating our ability to offer vendors flexibility and security over the course of a transaction.
“Despite the challenges thrown up by the COVID-19 pandemic, we are delighted to be able to demonstrate our ability to source and secure core investment opportunities that offer our investors immediate attractive yields.”
To read the digital edition of the latest IPE Real Assets magazine click here.