La Française Real Estate Managers has bought an office building of over 20,000 m2 in the 12th arrondissement of Paris, between the Gare de Lyon and Place de la Nation business districts.
The building, located at the foot of the Montgallet metro station, was bought from the Lagardère Group on behalf of collective real estate investment vehicles of La Française.
Financial details were not disclosed.
The nine-storey asset is let to seven tenants, including the European Space Agency and the French government space agency, CNES.
The transaction was brokered by Cushman & Wakefield as part of a co-exclusive mandate with BNP Paribas REM. Hubert Wargny of Wargny Katz served as notary for the vendor, Romuald Sachet, while Allez et Associés acted for the buyer.
David Franco of Fairway advised the buyer on financing issues, while Paul-Henri Cabissole of Archers advised the lender. The bank's notary was Bertrand Bonneau.
