CBRE Investment Management acquires Paris CBD office

CBRE Investment Management, on behalf of Zurich Insurance Group Germany, has completed the off-market acquisition of a class A office building in Paris from Sogelym Dixence, a French real estate developer.

The property is located at 5 rue de la Baume in the 8th arrondissement, in the heart of Paris’s CBD. It is well connected to the Paris Métro via lines 9 and 13, as well as to national transport links through its proximity to Paris-Saint-Lazare.

The asset was redeveloped by Sogelym Dixence in 2008 to create a modern and efficient class A office space. Comprising 3,300 square meters (35,520 square feet) across five floors above ground level, the building mostly features floor-to-ceiling windows on both sides of the property, providing excellent natural lighting and offers common services and includes 32 parking spaces.

“We are very pleased to increase our exposure to Paris, the second most invested market in continental Europe,” said Riccardo Cobianchi, h