La Francaise REM has purchased two office buildings on the edge of Paris on behalf of eight REITs.
La Francaise REM has purchased two office buildings on the edge of Paris on behalf of eight REITs.
Financial details were not disclosed.
The Panorama Seine and Dockside buildings in Issy-les-Moulineaux were completed in 2008 and are the global headquarters of catering group Sodexo, which has a 12-year lease on the property.
The acquisition comprises a seven-storey building with 7,905 m2 of office space and a two-storey building on Quai de la Bataille de Stalingrad, spanning 2,082 m2 of offices and catering facilities. The complex also has 116 parking spaces.
La Francaise REM was advised on the sale by law firm Fairway Avocats and 14 Pyramides Notaires. The seller was assisted by DTZ and law firms K&L Gates and Le Breton & Associés.
La Francaise REM is the property division of La Francaise Global Asset Management, with €13 bn of assets under management.
