The Qatar Investment Authority has signed an agreement to buy a building on the Champs Elysees in Paris for over EUR 500 mln, according to a news report in French paper Le Figaro.
The Qatar Investment Authority has signed an agreement to buy a building on the Champs Elysees in Paris for over EUR 500 mln, according to a news report in French paper Le Figaro.
The asset was put on the market in April by its owner, Groupama. The French insurance firm hired Jones Lang LaSalle to market the 27,000-m2 building located at 52 Avenue des Champs Elysees. The asset dates back to the 1930s, and includes a Virgin Megastore, a Monoprix supermarket, a shopping gallery as well as some office accommodation.
Altarea Cogedim advised the buyer.
