Real estate asset manager La Française has acquired the Natixis office building in Paris on behalf of Korea Post.
The property, located at 115 rue Montmartre, was purchased from Natixis, a French corproate and investment banking group, for €176 mln.
'After the acquisition of the So Ouest tower in July on behalf of Samsung SRA, Montmartre is the second transaction carried out by La Française Real Estate Partners within a few months on behalf of a leading Korean investor,' commented Patrice Genre, chairman of La Française Real Estate Partners.
'La Française has advised on, and now manages, close to €1 bn of real estate assets on behalf of Korean investors across France, Germany and the UK,' Genre added.
The deal marks the French debut for Korea Post, which manages KRW 111 tln (€88 bn) of assets.
The eight-story building provides approximately 10,000 m2 of floor space and was redeveloped in June 2016. The property is targeting three green certifications: HQE Excellent, BREEAM Very Good and BBC Effinergie.
The building is leased to Natixis on a long-term lease and is primarily occupied by its subsidiary, Banque Privée 1818.
'This is the first transaction since the opening of our office in Seoul, under the leadership of Shawna Yang, which enhances our ability to provide a high quality service to Korean investors seeking to invest in overseas markets,' said David Rendall, head of International Real Estate Business Development at La Française.
Cushman & Wakefield advised the seller.
