Apollo’s Core+ investment strategy has made its first foray in the French market with the acquisition of the Terra Nova V office complex in Paris.
The 19,000 m2 asset was bought for €137 mln from vendor Generali Real Estate.
Apollo's €1.6 bn AuM Core+ strategy worked in partnership with Hemisphere on the acquisition.
Designed by architects Hubert Godet, the scheme boasts a BREEAM in Use Very Good certificate and an Excellent HQE Exploitation level. Located in the district of Base Montreuil, the property is fully let to BNP Paribas, CPAM (French government tenant) and United Entrepreneur.
Apollo was advised by Lebreton Notaires, Gide Loyrette Nouel as legal counsel, Racine and PWC as tax advisors, Cushman & Wakefield as property advisors, KPMG as auditors and Builders & Partners as technical advisors.
