Tristan Capital, the pan European investment manager, has acquired the Ateliers du Parc office campus in the northwest of Paris from a German investor.
Tristan is making the acquisition on behalf of its long-life core plus CCP 5 fund for around €175 mln, it said.
According to reports in 2014, Deka Immobilien made the investment in the property for €155 mln.
The property is located on its own street block, comprising four office buildings delivering 32,600 m2 of grade A workspace, 80% let to Amazon and Simone Perele.
L’Etoile Properties has acted as the operating partner during the acquisition process and will continue in the implementation of the asset management strategy.
Thibault Ancely, MD Investments at Tristan Capital Partners, said the firm would further enhance the ESG credentials of the buildings and finalize the leasing activities alongside L’Etoile.
It is the first time the L’Etoile team in France has helped Tristan with an acquisition.
Tristan was advised by Lacourte Raquin Tatar, Etude Oudot, Racine, Theop and Longevity. Deka Immobilien was advised by C&C Notaires, LPA-CGR, Fidal, JLL and Bnppre.
