BNP Paribas Real Estate Investment Management (REIM) has acquired a 14,000sqm office and residential asset in France’s capital on behalf of the Danish pension fund PFA.
BNP Paribas REIM said it bought the Square d’Orléans asset located 80 rue Taitbout in Paris (9e) for an undisclosed sum.
The property was built in 1830 and is registered as a historical monument of Paris.
Guillaume Delattre, CIO, BNP Paribas REIM France, said: “This transaction illustrates BNP Paribas REIM’s capacity to manage and create long term value on complex real estate properties.
”We are thrilled to act on behalf of PFA for this investment, with whom we very quickly shared the same vision on the mix of use enhancement potential of Square d’Orléans and how we could optimise the asset.”
Henri Romnicianu, head of institutional sales, BNP Paribas REIM, said: ”This is a very exciting acquisition that demonstrates our ability to meet the requirements of one of the most demanding and skilled European pension funds.
“This cooperation also demonstrates our presence alongside international investors in the Nordics where BNP Paribas REIM has now successfully built several partnerships.”