Invesco Real Estate has exchanged contracts on the sale of a prime office asset in Paris to La Française Real Estate Managers on behalf of one of its clients.
The 11,100-square-meter (119,480-square-foot) asset is located at 173 Boulevard Haussmann (Paris 8th arrondissment) in the central business district of Paris, 400 meters (1,310 feet) from the Place de l’Etoile and the Champs-Elysées. Acquired by Invesco in 2015, it is let to Lazard, a leading investment bank, on a 12-year lease. The asset offers tenants panoramic views over the rooftops of Paris and the Eiffel Tower.
Following the acquisition in 2015, Invesco undertook a 24-month refurbishment program, developing a best-in-class office asset, which retained the building’s Hausmannian exterior with a thoroughly modern interior. With high-quality office space in short supply, the firm repositioned 173 Haussmann by creating additional space, including three new floors on the corner of the building, and moderni
