Norges Bank Investment Management (NBIM) and Swiss Life Asset Management have acquired the office section of the Les Ateliers Gaité mixed-used mall in France’s capital from Unibail Rodamco Westfield for €172.5m.
NBIM, the manager of the NOK18.82trn (€1.6trn) Norwegian Government Pension Fund Global, is investing €112.1m for its 65% stake in the 12,500sqm Les Ateliers Gaité office asset in central Paris, with Swiss Life investing €60.4m for the remaining 35% interest.
Swiss Life, which is investing on behalf of Swiss Life Group entities, said its French arm will be in charge of asset management of the asset.
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