CBRE GI buys core office building in Paris

CBRE GI buys core office building in Paris

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

The 4,370 sqm core office building is located on Avenue Ledru Rollin in Paris, near place de la Bastille in one of Paris’ most dynamic and vibrant neighborhoods. Built in the 1920’s, 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.

MGEN were advised by BNP Paribas Real Estate in the context of an exclusive sales mandate.