Schroder Real Estate has invested €130m in Paris for its pan-European Swiss fund, Immobilien Europa Direkt (IED).
The Résonance office was bought for the open-ended fund, an investment group of Zurich Investment Foundation, and an unnamed French insurance group.
The property was developed and completed last year by Codic and pre-let on a nine-year lease.
Tony Smedley, head of continental European investment at Schroder Real Estate, said: “The purchase is entirely consistent with our strategy of investing in growth cities where infrastructure projects are expected to transform a sub-market and generate long term alpha.”
The 25,000sqm property is near the Line 15 of the Grand Paris infrastructure project, in Bagneux to the south of Paris.