A partnership between Norges Bank Investment Management (NBIM) and AXA France is selling a €130m office asset in France’s capital to a group of investors including La Française.
NBIM, which holds a 50% stake in the Memphis property located on 109-111 avenue de France in Paris, said the 14,414sqm building has been sold to a partnership between La Française’s LF Grand Paris, Epargne Fonciere and EDF in a deal expected to be completed by the end of 2023.
NBIM, the manager of Norway’s sovereign wealth fund, said it will receive €65.1m for its interest.
The NBIM and AXA France partnership acquired the asset in 2011.
To read the latest edition of the latest IPE Real Assets magazine click here.
No comments yet