Germany’s KanAm grundinvest Fonds has sold its Le Printemps building in Paris for EUR 184.6 mln. The purchaser was not disclosed. The property is part of a three-building department store complex and comprises nine storeys with three underground levels. Substantially modernized in 1998 and 1999, the building originally dates back to the 1930s, and is located in the ninth arrondissement of Paris.
Germany’s KanAm grundinvest Fonds has sold its Le Printemps building in Paris for EUR 184.6 mln. The purchaser was not disclosed. The property is part of a three-building department store complex and comprises nine storeys with three underground levels. Substantially modernized in 1998 and 1999, the building originally dates back to the 1930s, and is located in the ninth arrondissement of Paris.
The site was acquired in October 2003 by KanAm for EUR 115.5 mln and is fully let until 2010, the company said in a press release. Le Printemps has been the building's tenant since 1935.
