AXA Investment Managers – Real Assets has agreed to purchase a 50 percent stake in a prime mixed-use property complex in Paris from European property investor Eurocommercial Properties for €203 million ($225 million).
Located in the 9th arrondissement in the heart of Paris’ Haussmann-Saint Lazare commercial district, the complex is comprised of three adjacent mixed-use assets.The asset comprises 65 percent retail space, 25 percent office, and 10 percent residential. It also includes a four-story underground car park.
The flagship Passage du Havre property is centrally positioned and is the largest of the three buildings, standing at 20,390 square meters (219,476 square feet). It features a renowned commercial arcade comprising 40 highly visible retail units and is anchored by a leading French superstore. The assets are fully let to a diverse mix of tenants.
AXA IM – Real Assets will jointly manage the property alongside Eurocommercial Properti
