CBRE Global Investors has acquired the Marengo mixed-use building in Paris from a fund managed by Morgan Stanley Real Estate Investing (MSREI).

CBRE Global Investors has acquired the Marengo mixed-use building in Paris from a fund managed by Morgan Stanley Real Estate Investing (MSREI).

Financial details were kept confidential.

The Marengo building is located next to the Louvre Museum and has a total surface area of 9,000 m2. It is fully occupied by 15 tenants including the Musée du Louvre, Cityrama and Club Med Gym.

MSREI was advised on the deal by Savills and Jones Lang LaSalle.

Boris Cappelle, head of investment at Savills France, said: ‘The Marengo property is an attractive prime asset let to well known French tenants situated in a much sought after location. We continue to see robust activity in the investment market in France in 2014, and expect turnover in the first quarter to reach a historically high volume.’

Jones Day and De Pardieu Brocas Maffei also acted for the vendor. Linklaters and EY acted for CBRE Global Investors.