French insurance group Covea has purchased the Sequana office building in Paris from an unnamed German financial investor. Financial details were not disclosed.
French insurance group Covea has purchased the Sequana office building in Paris from an unnamed German financial investor. Financial details were not disclosed.
Developed in 2005, the asset offers nearly 20,000 m2 of multi-let office space, with major tenants including Natixis and Flammarion. It is located near Rive Gauche, the new financial district in the 13th district of Paris, and consists of two buildings, providing 9,900 m2 and 8,470 m2 of space respectively.
BNP Paribas Real Estate advised both the buyer and the seller.
The deal comes hard on the heels of the French insurer's purchase last month of the Paris headquarters of publishing group Moniteur, in a deal also brokered by BNP Paribas Real Estate.
In April, Covea also bought tyre manufacturer Michelin's historic headquarters at 46 Avenue de Breteuil in Paris' 7th arrondissement for EUR 110 mln.
