PGIM Real Estate has acquired office and logistics properties in France on behalf of investors in its core plus and value-add pan-European discretionary funds.
Atria, an office building in Paris; a Class A logistics platform development project in the south of Paris; and Portes Sud, an office campus in Toulouse.
“These recent acquisitions demonstrate the agility of PGIM Real Estate’s platform in France as well as our ability to execute on transactions across sectors and strategies in which we have conviction. This cross-functional expertise enables us to successfully deliver our strategy across defined risk return requirements,” said Jocelyn de Verdelon, head of France, Spain & Portugal at PGIM Real Estate.
Atria, an approximately 5,000-square-meter office building located at 30bis-32 rue de Paradis, in Paris’ 10th arrondissement. The property is currently 100% leased to Jacobs Douwe Egberts, a coffee and tea company.
”This area has become the natural eastern extension of the Parisian business district and is very popular with startups and companies in the technology and communications sectors, ” said company in a press release.
In addition, PGIM Real Estate acquired from Grand Paris Aménagement a Class A logistics development project in the ZAC du Noyer aux Perdrix at Servon (Seine-etMarne), 25 kilometers south of Paris. This transaction, comprising a 76,000-squaremeter site and a development agreement with IDEC Group, will create a 31,000- square-meter logistics platform in the southern Ile de France area.
Finally, PGIM Real Estate acquired the “Portes Sud” office campus. The campus comprises three buildings totaling approximately 20,000 square meters and is located near the highly accessible Toulouse ring road, in the business district of Bordelongue.
