Primonial buys office asset for €40m

French asset manager Primonial REIM has acquired an office building in Ile-de-France region of Paris for over €40 mln.

Primonial REIM, which is led by Laurent Flechet, carried out the acquisition on behalf of one of its funds.

The building is situated in the Bercy II commercial district and provides around 10,000 m2 of space and 198 parking spaces. Delivered in 1991, it is entirely leased to an unnamed French bank with a six-year rental agreement.

BNP Paribas Real Estate brokered the transaction. Primonial REIM was advised by law firm Allez & associés and Ares.