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Cain International enters Paris office market
Cain International and its partner FREO Group have entered the Paris office market with the acquisition of Collisee II from a French institutional investor. A sales price was not disclosed.
The office asset currently comprises 11,488 square meters (123,656 square feet) and is located in the Saint-Ouen region in the north of Paris. The partners have identified a range of asset management initiatives for the vacant building, including plans for a comprehensive refurbishment to deliver a class A modern office space.
This acquisition represents Cain International’s debut into the Paris office market, further diversifying the firm’s European real estate portfolio valued at more than €2 billion ($2.4 billion) which spans Ireland, Spain, Central Eastern Europe, the United Kingdom and now France. It is Cain International’s third partnership with FREO Group, having previously worked with the investment manager on transactions in Spain.
“Despite recent headwinds