AEW Europe has completed the acquisition of four office buildings in Paris for €300 mln.
AEW Europe has completed the acquisition of four office buildings in Paris for €300 mln.
The portfolio comprises 27,000 m2 of office space sold by SIIC de Paris. Three of the properties are located in the central business district of Paris (10-12 Rue de Tilsit, 2 rue du Quatre September, 8 rue Lavoisier), while the fourth, 8 rue François Ory, is in Montrouge, a commune in the southern suburbs of the French capital.
The acquisition by AEW Europe - acting on behalf of an unnamed institutional investor - was first signalled in August as part of a €500 mln office sell-off by French REIT Eurosic and its majority-owned subsidiary SIIC de Paris.
The four SIIC de Paris assets were sold as part of a tender process organised by Catella Property and BNP Paribas Real Estate. The tenants of the fully let assets include Cleary Gottlieb Steen & Hamilton, Van Cleef & Arpels, Shibsted (Le Bon Coin) and Mondadori.
In a separate deal, signed on 8 July, Eurosic sold Eurosic Grand Seine in Parus to Primonial for €196 mln.
