Cromwell Property Group has acquired a prime Parisian office building located in the CBD on behalf of a private investor from a fund managed by Swiss Life Asset Managers France.
Located at 32-34 rue Galilée near the Arc de Triomphe and the Champs Elysées, this office building is held in full ownership and develops 1,690 m² spread over a ground floor, 3 floors of offices, a terrace and 2 basement levels.
The Parisian office building underwent a restructuring in 2019. It is BREEAM in use “Good” certified and is fully let under a long-term lease with a business financial advisory firm.
“This acquisition demonstrates our ability to source assets off-market in the sought-after area of the CBD where transactions are rare while offering sellers security of execution. Our local team continues to find core opportunities for our investors that offer secure long-term returns,” said Lionel Naturkrejt, Head of Investment France.
The buyer was advised by Alex Bolton, the notarial office Allez & Associés, the law firm Mayer Brown and CBRE Design & Projects.