German fund manager Warburg-HIH Invest Real Estate has sold a Paris office property for €54.5m.
The asset was sold on its behalf by TH Real Estate to France’s Caisse National de l’Ordre des Médecins, which will use the building as its new headquarters.
The 4 Rue Leon Jost building is in the 17th arrondissement of the French capital.
Andreas Schultz, managing director of transaction management international, said: “We were able to accommodate the specific features of the property and achieved an optimal sales result in an unusual setting.
“This will strengthen the performance of the fund which is selling out as planned.”
The 4,800sqm building is within the Paris central business district near Courcelles.
TH Real Estate also sold a retail asset for Warburg-HIH in Asti, as reported last month.
The Nuovo Borgo Shopping Centre was bought by Barings Real Estate Advisers for €51.5m as its Italian debut.
