French investment manager Primonial REIM has acquired the Okabe business centre in Kremlin-Bicêtre, south of Paris from developer Altarea Cogedim for €120 mln.
French investment manager Primonial REIM has acquired the Okabe business centre in Kremlin-Bicêtre, south of Paris from developer Altarea Cogedim for €120 mln.
The office scheme provides 23,000 m2 of office space fully let to five tenants with a firm six-year lease.
Designed by architects Valode et Pistre, the complex was delivered in 2010, and is located adjacent to the 35,000 m2 Okabé shopping centre, which continues to be owned by Altarea. The property is HQE-certified.
Primonial REIM completed the acquisition on behalf of OPCI and SCPI funds it manages.
The buyer was advised by law firms Wargny Katz, CGR Legal and CVO France. Etude Thibierge acted for the vendor.
