SEB Asset Management has acquired the Cap de Paris office building, which is located in the Montrouge district of Paris and is fully leased to French publishers La Martinière Groupe, for its SEB Europe REI open-ended real estate special fund. The lease, which runs from the beginning of March 2010, has a fixed term of six years.
The building is situated in a prominent location in the direct vicinity of the southern Boulevard Périphérique and benefits from direct links to the public transport system (metro line 4, tram line 3) something that is extremely important in Paris as well as to the regional and national motorway network (A4, A6 and A86).
Montrouge, which directly adjoins the City of Paris and used to be heavily industrialized, has gained substantially in prestige in the last 20 years due to its attractive transport links and tax location. Home to around 46,000 residents and roughly 2,000 companies,
Montrouge is now one of the most important office locations in the Ile de France region.
The purchase bring the total number of markets in which the real estate special fund, which was launched in 2009, is invested to three, following its acquisition of properties in the United Kingdom and Austria. Additional investments are planned in the course of 2010 to increase country diversification.