French listed property firm Terreïs has acquired an office building in the eighth arrondissement of Paris from Germany's IVG Institutional Funds.
French listed property firm Terreïs has acquired an office building in the eighth arrondissement of Paris from Germany's IVG Institutional Funds.
Located at 41, avenue de Friedland, the building provides a total of 6,200 m2 of office space as well as 43 parking spaces and is multi-let to five tenants.
Financial details were not disclosed. However, IVG's investment director for France, Hassène Aksil said that the company has booked a 'significant' gain with the disposal.
The asset was bought in 2009 for IVG Institutional Funds.
Terreïs was advised by law firms Godet Fargeaud Pubelliet and 14 Pyramides. IVG Institutional Funds was advised by DLA Pipper, Fidal, SCP Prud'homme.
The deal was brokered by Knight Frank and JLL.
