JPMorgan Asset Management Real Estate (Europe) has announced that a fund advised by it has acquired Carré Pleyel, an office building in suburban Paris, from owner Zeus IV, a fund managed by Morgan Stanley, in an asset sale transaction.
The Carré Pleyel building is located in St. Denis (93200), and encompasses approximately 20,000 m² of office space. The building is fully occupied by 10 tenants and includes a 150-seat auditorium, a gym, a 250-seat cafeteria and 343 parking spaces.
JPMorgan Asset Management was advised by the law firm Paul Hastings and the notary Monassier & Associés. Debt financing was provided by Société Générale CIG, and the asset will be managed by S2i Expert Asset Management. The transaction marks the eighth acquisition in France by JPMorgan Asset Management Real Estate (Europe).