Fund manager Primonial REIM has acquired an office building in northern Paris from AXA Real Estate.
Fund manager Primonial REIM has acquired an office building in northern Paris from AXA Real Estate.
The building at located at boulevard Victor Hugo in the Saint Ouen district was bought for €71.5 mln.
Delivered in 2009, the asset provides 11,600 m2 of office space, including 532 m2 of retail accommodation on the ground floor.
The property is fully let with a nine-year rental agreement and boasts a HQE Construction environmental rating.
The acquisition was made on behalf of one of Primonial REIM's OPCI investment funds.
Primonial REIM was advised by law firms Allez&Associés, Ares as well as MN2A on technical matters.
