French real estate investment manager Primonial has acquired a 40,000 m2 office property in Paris for an undisclosed amount from Abu Dhabi Investment Authority.
French real estate investment manager Primonial has acquired a 40,000 m2 office property in Paris for an undisclosed amount from Abu Dhabi Investment Authority.
The property is located at 91-93 Boulevard Pasteur, near Montparnasse train station in the southwest of the French capital. Asset manager Amundi occupies the building as the sole tenant on a nine-year lease.
The transaction took the form of a club deal. The vendor was a fund operated by LaSalle Investment Management on behalf of ADIA, Abu Dhabi's sovereign wealth fund.
The three-building property dates from 1965 and was renovated in 2012. There are also 443 parking spaces at basement level.
JLL acted in the transaction.
