Swiss Life REIM has signed the acquisition of three office buildings in Lille, Northern France, on behalf of three funds it manages.

Swiss Life REIM has signed the acquisition of three office buildings in Lille, Northern France, on behalf of three funds it manages.

The total transaction price comes to €74 mln.

The assets include a multi-let building of 4,860 m2 at Rue des Canonniers, which was acquired from a local mutual insurer on behalf of the SwissLife Dynapierre OPCI; the 15,390 m2 Arcuriales complex at Place de la Gare de Lille Flandres; and a 6,300 m2 building at Rue des Buisses, which is let to several tenants including Ernst & Young,and Neuflize OBC.

The latter was bought from a fund managed by Deutsche Asset & Wealth Management (formerly known as RREEF) on behalf of an OPCI invested by a French institutional investor.

'Lille, the second city of France in terms of international headquarters, has a quality and dynamic office market offering attractive rates. This is an area that we are watching very closely this year to seize acquisition opportunities,' commented Henri Rémond, director of asset management at Swiss Life REIM.

The assets were marketed by Evolis; Jones Lang Lasalle and BNP Real Estate; Catella Property Consultants and BNP Real Estate.