Allianz Real Estate, acting on behalf of several Allianz Group companies, has acquired two prime office buildings, which form part of the landmark office complex Citylights in the Paris region. This off-market transaction of approximately €500 million ($594 million) represents the largest office transaction that Allianz Real Estate has closed in Europe.
Citylights is located in Boulogne-Billancourt, one of the best-established office markets in the Western Business District of Paris, and comprises three towers. Allianz has acquired the 23-story City 1 and the nine-story City 3, providing a total gross leasable area of 48,500 square meters (522,000 square feet) and representing approximately 60 percent of the entire development.
Formerly known as the Pont de Sèvres Towers, the complex was built in 1978 before being redeveloped and refurbished in 2014 and 2015 by the internationally awarded architect Dominique Perrault. The buildings adhere to the highest environmenta
