Aviva Investors has acquired the 112 Wagram office building in the 17th arrondissement of Paris from French property firm SFL for a price of around €120 mln.
Located at 108 - 112 avenue Wagram, the building provides 5,500 m2 of office space as well as 28 parking spaces and is fully occupied on a long term basis.
SFL bought the scheme in 2010 and subsequently upgraded it. The sale is part of SFL's mature asset rotation strategy.
Grégoire Bailly-Salins, director of Real Estate Investments for Continental Europe, Aviva Investors, said: ‘The acquisition complements our real estate portfolio under management in the heart of the Parisian CBD.’
‘This sale confirms the resilience of assets with solid real estate fundamentals, well located, and leased to renowned clients and the continued interest of large investors in the "core" assets of the Paris CBD,’ added Aude Grant of SFL.
