French fund manager Primonial REIM has acquired the Ovalie office complex in Saint-Ouen near Paris from Aviva Investors Real Estate and Capital & Continental for around €100 mln.
French fund manager Primonial REIM has acquired the Ovalie office complex in Saint-Ouen near Paris from Aviva Investors Real Estate and Capital & Continental for around €100 mln.
Delivered in October 2012, the complex is located in the Victor Hugo business park and provides 15,115 m2 of office space as well as 237 parking spaces. It boasts a BBC and HQE environmental certificate.
The asset is leased in its entirety to Samsung on a seven-year term.
Primonial REIM was advised by law firms 14 Pyramides and Fairway while CVO carried out technical due diligence. BNP Paribas Real Estate, Jones Lang Lasalle and CBRE as well as law firm Ginisty acted for the vendor.
The acquisition follows hard on the heels of Primonial's purchase in mid-January of an office building in Paris' Central Business district from Sofilo, part of the EDF group.
Located at 69-71 rue de Miromesnil in Paris' eighth district, the building provides 2,670 m2 of space and five parking spaces. The building has been occupied for over 20 years by EDF, which has just renewed its lease.
