Allianz Real Estate has acquired the Arc de Seine office complex in Paris from Union Investment Real Estate.
Allianz Real Estate has acquired the Arc de Seine office complex in Paris from Union Investment Real Estate.
The investment volume came to around €220 mln.
Allianz Real Estate, headquartered in Munich and with an office in Paris, completed the transaction on behalf of French investors in Allianz Group.
Situated in the 13th arrondissement of Paris close to the French National Library, the Arc de Seine comprises a total area of 23,300 m2 and occupies a prime, corner location with the main glass façade overlooking the Pierre Mendes France avenue.
Allianz Real Estate had €30 bn of assets under management at end-2013, consisting of direct and indirect property equity investments and lending.