CBRE GI acquire Paris office building (FR)

CBRE Global Investors, acting on behalf of a separate account client, has acquired an office building located in Paris. The vendor was MGEN. The purchase price was not disclosed.

The 4,370m² building is located on Avenue Ledru Rollin, near place de la Bastille in one of Paris’ most dynamic and vibrant neighbourhoods. Built in the 1920s, this corner building benefits from excellent visibility with large and efficient floorplates.

This acquisition fits a strategy of investing in assets located in work-live-play submarkets and tech clusters providing significant rental upside. A number of short- and medium-term asset management initiatives have been identified to increase the building’s value. Lasaygues, Linklaters, Reed Smith, Artelia and Ramboll Environ advised CBRE Global Investors on this acquisition.