Primonial REIM has announced the acquisition of the headquarters of Banque Neuflize OBC in Paris’ eight arrondissement in a deal financed by Helaba, Banco Sabadell and La Banque Postale.
The transaction, of an undisclosed amount, was structured as a sale and leaseback with Neuflize, a subsidiary of the Dutch bank ABN Amro. It involves almost 29,000 m2 of office space out of the building’s total of 51,000 m2.
The space will be fully leased by Banque Neuflize OBC and members of its group.
Grégory Frapet, Chairman of the Primonial REIM Management Board, said: ‘This deal gives us a bigger footprint within Paris itself in one of the business districts that is most sought out by investors and where real-estate opportunities are very rare. This acquisition is part of our medium-term value creation objective while ensuring a visible revenue stream for our investor clients over the coming years.’
Primonial REIM was advised on the deal by LPA business law firm on legal aspects, by the Cheuvreux notary office on notarial aspects, and by 7 Concept and B&B Architectures on technical aspects.
