Real IS has purchased a prime office building in Paris for its Bayerische Grundvermögen VI (BGV VI) fund from AEW Europe for an undisclosed sum.
'The leasing and subsequent sale of 85-87 rue du Faubourg Saint Martin by AEW is a good example of real estate investors following the tech sector to areas outside the traditional CBD,' commented Tristam Larder, director of Savills European Cross Border team, which advised AEW.
The building comprises 5,560 m2 and includes 113 parking spaces. It has recently undergone extensive renovation and on 1 November was let to the French HQ of online classifieds and community webpage leboncoin, who have signed a ten year lease agreement.
BGV VI is a special real estate alternative investment fund (AIF) which invests on behalf of German institutional investors.
