HSBC Real Estate Investment Management has acquired 3,600 m[sup]2[/sup] of office space within the Tour Franklin at Paris' business district of La Defense as well as an office building offering 2,600 m[sup]2[/sup] of space in the seventh arrondissement of Paris. The transaction price amounts to EUR 39 mln.
HSBC Real Estate Investment Management has acquired 3,600 m2 of office space within the Tour Franklin at Paris' business district of La Defense as well as an office building offering 2,600 m2 of space in the seventh arrondissement of Paris. The transaction price amounts to EUR 39 mln.
The properties were sold by the asset management arm of AEW Europe on behalf of French insurance company CNP. The assets, which are earmarked for HSBC's SCPI Elysees Pierre, generate EUR 2.85 mln in annual rental income.
Jones Lang LaSalle acted as real estate advisor.
Law firm Michelez et Associés acted for HSBC Reim, while Wargny Katz and Monassier et Associés provided legal advice to AEW.
