French insurer CNP Assurances has purchased Pantin Logistique, the largest logistics building in Ile-de-France, Paris.
The urban logistics complex, covering 150,000 m2, is located in Pantin, Seine-Saint-Denis.
CNP Assurances declined to comment on the price.
Built in 1974, the three-storey structure comprises 48 units, each covering 3,000 m2. It was renovated in 2012 and is fully occupied by around 40 tenants.
'Pantin Logistique is an emblematic asset of exceptional size and perfectly located,' commented Daniel Thébert, head of real estate & infrastructure investments at CNP Assurances.
'It represents for CNP Assurances a first direct investment in the area of logistics and further diversifies the group’s asset portfolio,' he added.
CNP Assurances recently announced plans for a strategic move into e-commerce in France.
AEW advised CNP Assurances on the acquisition.
