La Française Real Estate Managers (La Française REM) has purchased an office building in Paris from InfraRed Capital Partners and Générale Continentale Investissements for a reported €170 mln.
Financial details were not disclosed.
The asset, dubbed Cityscope, is a 40,000 m2 building located in the Montreuil area of the greater Paris area.
The acquisition was made on behalf of six SCPIs managed by La Française REM, including La Française Pierre, Epargne Foncière, LF Europimmo, Multimmobilier 2, Sélectinvest 1 and Pierre Priviliège.
Fully let to ten tenants on six-nine year leases, the 26-storey building is certified BREEAM In-Use 'Very Good' and HQE Exploitation 'Excellent'.
La Française REM was advised by Stratégies and Corp., Allez et Associés and Jeantet.
The vendor was advised by BNP Paribas Real Estate, Savills, Gide, l’Etude Lebreton and Racine.
