Real estate asset manager AEW Ciloger has acquired an office-led building in Paris’ CBD, on behalf of the Fructipierre Fund. The financial details of the transaction were not disclosed, but the price is believed to be around €30 mln.
The building is located on avenue Marceau in Paris’ CBD and offers 2,500 m2 of space distributed across eight levels of offices and two street level retail premises. There are also 46 indoor parking lots.
Fructipierre is a diversified income focused fund with a portfolio that comprises offices and retail assets in Central Paris and Paris Île de France.
AEW Ciloger was advised by ADDH – Me DECHIN and the seller by 14 Pyramides – Me GOURRET. Wakefield & Cushman and Hayter International were co-exclusively mandated in this transaction.
As at 30 September 2017, AEW managed €26.6 bn of real estate assets in Europe on behalf of a number of funds and separate accounts. AEW has close to 400 employees based in 10 offices across Europe and has a long track record of implementing core, value-add and opportunistic investment strategies on behalf of its clients.
In the last five years, AEW has invested and divested a total volume of over €17.5 bn of real estate across European markets.
