German investor Real I.S. said on Monday that it has acquired an office building in Paris for around EUR 42 mln. The seller is Franco-Dutch property group Unibail-Rodamco, according to a Real I.S. spokesperson. The acquisition was carried out on behalf of the company's Bayerische Grundvermogen III Sicav real estate investment fund for institutional investors.

German investor Real I.S. said on Monday that it has acquired an office building in Paris for around EUR 42 mln. The seller is Franco-Dutch property group Unibail-Rodamco, according to a Real I.S. spokesperson. The acquisition was carried out on behalf of the company's Bayerische Grundvermogen III Sicav real estate investment fund for institutional investors.

Located near the Arc de Triomphe in Paris, the office building has a historic facade and a total rentable surface of 3,000 m2. The property serves as the French head office of international law firm Mayer, Brown, Rowe & Maw. The transaction represents the 12th acquisition for the BGV III fund and the second investment in the CBD region of Paris.

At the end of 2008, Real I.S. bought an office building in central Paris which is fully let on a long-term basis to international engineering group Fives for around EUR 32 mln.