Tristan Capital Partners‘ CCP 5 LL fund has purchased the iconic Ateliers du Parc office campus in Paris from Deka Immobilien Investment for €175 million.
The property, located in the city centre of Clichy, in Paris’ Northwest first ring, comprises four office buildings delivering 32,600 sq m of grade A workspace, situated opposite an attractive 6-acre park/square.
The buildings, which sit on a 9,000 sq m land plot, feature notably Eiffel style façades and are 80% let to Amazon and Simone Perele.
Thibault Ancely, Managing Director – Investments at Tristan Capital Partners, said: “Les Ateliers du Parc further strengthens our portfolio in Paris, delivering high-quality, amenitised office space in an urban location which benefits from significant outside space and strong transport connections. Through our active asset management, we will enhance the ESG credentials of the buildings and finalize the leasing activities alongside our operating partner to drive income growth. This transaction is our tenth over the last 18 month’s taking our assets under management in France to c. € 1.2bn across office, logistics and retail and we are actively assessing opportunities to continue to grow our portfolio.”
Guillaume Unglik, Managing Director at L‘Etoile Properties – a Sienna Investment Managers company, added, “We are delighted that our French team has completed its first transaction with Tristan Capital Partners and we look forward to working together to maximise the value of such an iconic property.”
