Insurer Generali Vie has acquired the 4 place de l’Opéra office building in the second arrondissement of Paris from a fund managed by Ofi REIM in joint venture with F&C REIT.
Insurer Generali Vie has acquired the 4 place de l’Opéra office building in the second arrondissement of Paris from a fund managed by Ofi REIM in joint venture with F&C REIT.
The financial details were not disclosed. The building had a market value of around €80 mln 2006, when UK REIT Hammerson sold a 50% interest to its partner Fosca.
Originally set up by MAAF Assurances, Fosca is an investment fund managed by OFI REIM and F&C.
The mixed-use, office-led building is HQE certified and provides 10,600 m2 of space and 27 parking spaces.
'This investment is perfectly in line with our strategy to focus on core assets in France,' commented Philippe Brion, managing director of Generali Real Estate France.
Jones Lang Lasalle advised Ofi REIM on the deal.
