Allianz Real Estate announces the acquisition of the Arc de Seine building, situated in the 13th arrondissement of Paris. The seller is Union Investment and the acquisition was completed on behalf of French investors of the Allianz Group for around €220 million.
Situated in the 13th arrondissement of Paris close to the French National Library, the Arc de Seine has a total area of 23,300 m² and is set apart by its prime, corner location and main glass façade overlooking the Pierre Mendes France avenue.
It has been rented out since its completion in 2006 by Natixis as more than 20,000 m² of office space, and for which the lease was recently renewed. The asset comprises of 182 parking spaces within the infrastructure, a canteen of 1,250 m² and almost 1,400 m² of ground floor retail space.
“We are delighted with this acquisition in keeping with our investment strategy, and which also reinforces our exposure within the office segment of the left bank of Paris”, comments Olivier Wigniolle, CEO of Allianz Real Estate France.
Source: Allianz Real Estate