Aviva Investors has acquired Le 50 rue d’Anjou, an office building in Paris on behalf of one of its mandates. The purchase price was not disclosed.
Located in the eighth arrondissement in the heart of the Central Business District of Paris, le 50 rue d’Anjou has a total lettable area of almost 10,600 sq m of office space, arranged over two basement levels, a ground floor, five upper floors and surrounding four main interior courtyards.
The company said in a statement the acquisition was carried out as part of a sale and lease back agreement with Crédit du Nord, which has occupied the building for the past 25 years. The Paris office building is situated next to multi-modal public transport networks, accessible via Gare Saint-Lazare.
“We are delighted to acquire this asset and to have agreed a leaseback agreement with an institution such as Crédit du Nord. Alongside London, Paris is the office market identified in our research last year that we expect to be the best-performing in Europe. The asset sits in a good location in the city, strengthened by its proximity to a significant transport hub. These attributes, coupled with the existence of a high-quality tenant, aligns it well with Aviva Investors’ investment strategy,” said Adrien Beuriot, Head of Asset Management, Continental Europe, at Aviva Investors.
Aviva Investors was advised by Screeb, Reinhart Marville Torre, THEOP, Expertam and Manexi. Crédit du Nord was advised by Société Générale Real Estate Advisory, l’étude Thibierge, and the cabinet Herbert Smith Freehils.