Generali Real Estate adds prime office building in suburban Paris

Generali Real Estate has acquired a prime office building in Paris on behalf of its two pan-European funds, Generali Europe Income Holding (GEIH) and GF Pierre.

The seller was BNP Paribas REIM.

The property, known as Bords de Seine 2, is a 19,720-square-meter (212,264-square-foot) building located in the CBD of Issy les Moulineaux in the southwestern suburban area of Paris.

Built in 2003 and renovated in 2014, the building is 100 percent leased to two major French financial institutions.

Financial terms of the deal were not disclosed, but the acquisition is fully in line with Generali Real Estate’s strategy to invest in high-quality buildings in resilient European cities.