Invesco Real Estate has acquired another office building in France for EUR 37 mln from Allianz Real Estate. The deal follows two previous transactions in Paris and Lyon at end-2009. Located on Avenue des Champs-Elysées in Paris, the retail and office building will be placed in Invesco's pan-European fund.
Invesco Real Estate has acquired another office building in France for EUR 37 mln from Allianz Real Estate. The deal follows two previous transactions in Paris and Lyon at end-2009. Located on Avenue des Champs-Elysées in Paris, the retail and office building will be placed in Invesco's pan-European fund.
The prestigious Haussmann-style building dates back to 1860 and has approximately 1,900 m2 of office and retail space over five storeys. It is currently leased largely to BNP Paribas and Banque Postale.
Doris Pittlinger, Head of Fund Management Europe at Invesco Real Estate, said: 'We are very proud to have managed to leverage our excellent network to make this investment as few Champs-Élysées properties are put up for sale.'
The transaction was arranged by Catella. Over the past 12 months Invesco Real Estate has invested over EUR 500 mln into the French market and EUR 770 mln across Europe.
Invesco Real Estate is a global real estate firm, which has been providing real estate investment and property asset management services since 1983, first in the US and then expanding into Europe and Asia. Globally, Invesco Real Estate has EUR 18.4 bn of assets under management, of which EUR 4.7 bn is managed across Europe.
