Perial AM buys Marseille office tower from Swiss Life AM

Perial AM buys Marseille office tower from Swiss Life
The La Marseillaise office tower, located in the Euroméditerranée district of Marseille Image: Courtesy of Perial AM

Perial Asset Management has purchased the La Marseillaise office tower located in the Euroméditerranée district of Marseille from Swiss Life Asset Managers France. 

This operation was carried out on behalf of three funds managed by Perial AM: the SCPI PFO, the SCPI PFO2 and the SCI PERIAL Euro Carbone, labeled SRI.

”The acquisition of La Marseillaise is a perfect illustration of Perial AM’s investment strategy. The quality of the building, its privileged location in a dynamic metropolis, a true link between Europe and the Mediterranean, make it an operation of choice for the valuation of the assets of our funds,” said Eric Cosserat, Chairman and CEO of Perial Asset Management.

Delivered in 2018, the La Marseillaise tower in Marseille has an area of ​​nearly 38,000 m² spread over 33 levels, including a majority of offices (34,318m²), shops (673m²), an RIE (2,615m²) and archives (215m²).

The asset is now fully let to 15 first-tier tenants. Among them, the Aix-Marseille Metropolis occupies nearly half of the building, alongside the Orange group, Caisse d’Epargne Provence Alpes Corse, Haribo Ricqles ZAN, Constructa Group, Financière du Steir, City of Marseille, Sodexo, Swiss Life AM, and several businesses.

The tower has a solid rental condition with an average secure lease duration of over 8 years.

The 135-meter building, nestled in the heart of the Quais d’Arenc project, benefits from the dynamism of the Euroméditerrannée district, Marseille’s leading tertiary market. 

The Aix-Marseille metropolitan area also posted a record first rental quarter of 2022 with 50,710 m2 of office space. Occupancy rates are close to 100% for the majority of buildings in the area.

Located near two tram lines, a TER station and a metro line, the asset benefits from an excellent public transport service. Road and airport accessibility is also top notch thanks to its location on the edge of the port but also the A55 and A7 axes linking Marseille Provence airport.

”This new acquisition reinforces our convictions in the dynamics and the exceptional potential of the city, the Metropolis and the Euroméditerranée project. La Marseillaise joins the portfolio managed by Perial AM, which is already well established in Marseille with assets such as Totem, Espace Gaymard, Rue Saint Ferréol. Our portfolio is now approaching 6 billion euros of assets located in the main European cities,” said Loïc Hervé, Deputy CEO of Perial Asset Management.