BNP Paribas REIM has acquired an office building in central Paris, on behalf of a Korean institutional investor, from Goldman Sachs.
Financial details were not disclosed.
The property, 16 Washington, is located in the 8th arrondissement of Paris, 80m from Avenue des Champs-Elysées. The office was delivered at the end of 2017, comprising 5,720 m2 of lettable office space on seven upper floors. Its certification includes HQE Excellent, BREEAM Very Good and BBC label.
'This transaction is another success of our separate account business, here with our Asian clients with whom we are now the partner of choice for their European real estate investment strategy,' said Xavier Mouette, head of key client group of BNP Paribas REIM.
The property is fully let to Nextdoor, a subsidiary of Bouygues Immobilier and Accor Hotels and a leading French coworking company.
'After having also recently contributed to the acquisition of the second largest e-commerce centre in Europe in Poland, we are currently working on other transactions on behalf of international clients. This is in line with our plan to substantially grow this activity in the coming years,' Mouette added.
The operation was executed via a Société Civile Immobilière (SCI) managed by BNP Paribas REIM France.
The buyer was advised by Wargny Katz and Mayer Brown.
Deutsche Pfandbriefbank financed the transaction.
