Tristan Capital Partners has invested more than €100m in two office buildings in Paris.
The investment manager said the properties, near the Val-de-Fontenay and Saint-Denis Pleyel stations, were bought for its European Property Investment Special Opportunity (EPISO) 3 and 4 funds, respectively.
Jean-Philippe Blangy, managing director at Tristan, said: “After more than a two-year wait for France’s occupier markets and values to adjust, we have now made three acquisitions there in six months, and we are actively looking at more opportunities in the Paris region and elsewhere in the country.”
Blangy said both locations were set to benefit from new and upgraded rail infrastructure.
“The improved connectivity will significantly increase the appeal of these locations to occupiers who are looking for better value, quality space outside of the supply-constrained office market of the city centre and La Défense,” he said.
The 12,000sqm Fontenay-sous-Bois building, on the Michel Ange office campus, was sold by Aviva.
The property is fully let to the French government agency.
The vacant 16,600sqm Grand Angle building in Saint Denis was sold by Oman’s State General Reserve Fund.
Tristan Capital said the property would undergo a complete refurbishment.