Cromwell Property buys core office asset in Paris

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.”

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