LaSalle Investment Management has acquired a 4,656m2 office building in France’s capital city for an undisclosed sum.
The investment is being made for LaSalle’s open-ended pan-European real estate fund E-REGI.
The fully let 25 rue de Clichy office building is in the 9th arrondissement of Paris.
This is the fifth acquisition so far for E-REGI fund in 2017 and will increase its gross asset value to €625m, LaSalle said.
Uwe Rempis, fund manager at LaSalle Investment Management, said: “This acquisition will be the second that the fund has made in France to date and will provide a greater level of diversification for the portfolio with a very core office building.
Karim Habra, head of Continental Europe at LaSalle Investment Management, said: “This acquisition fits well with LaSalle’s ability to source core high quality assets with upside potential whilst remaining rigorous on the location.”
“Alongside the acquisition of Infinite in Paris central business district, earlier this year, this project underlines the ability of our team in France to find prestigious properties in prime central locations,” Habra said.