French fund manager Française REM has acquired Le Stratège office building in Puteaux, in the western suburbs of Paris, on behalf of its SCPI Selectinvest 1, Epargne Foncière and Multimmobilier 2 investment vehicles. The vendor is IVG Institutional Funds. The transaction price comes to over EUR 25 mln.
French fund manager Française REM has acquired Le Stratège office building in Puteaux, in the western suburbs of Paris, on behalf of its SCPI Selectinvest 1, Epargne Foncière and Multimmobilier 2 investment vehicles. The vendor is IVG Institutional Funds. The transaction price comes to over EUR 25 mln.
Built in 1979 and completely restructured in 2001, the scheme offers 5,322 m2 of office accommodation as well as 112 parking space and is entirely leased to Ermewa, a unit of France's national state-owned railway company SNCF, with a 6/9-year rental agreement.
The buyer was advised by l’Etude 14 Pyramides. Law firm Thibierge and CBRE acted for the vendor.
Française Real Estate Managers is a specialist in SCPI fund management, with EUR 6.2 bn of property assets under management.
