Ardian sells iconic office asset in Paris to M&G

Ardian has sold an iconic office building located in the Monceau Business Area of Paris to M&G for €271 million ($289 million).

RIO, which was built in the 1920s, is located in the heart of the central business district. It was acquired by Ardian in 2018. Since its acquisition, Ardian has completed a global repositioning of the property to best-in-class standards, overseeing a heavy refurbishment.

Consisting of 8,676 square feet of leasable area across eight floors, RIO, which was designed to meet the highest ESG standards, offers tenants prime quality office space. 2 Place Rio de Janeiro is fully let to a high quality tenant base including legal, investment and private equity firms. Key to this high level of interest is the building’s proximity to the Monceau Business Area – Paris’ main CBD – located next to Parc Monceau. The area attracts talent from across Europe and is home to some of the biggest names in the luxury and fashion industries, major finan