Korean investor enters Paris office market
La Française has acquired an office building in Paris from Natixis on behalf of Korea Post for €176 million ($192 million). The transaction is Korea Post’s first real estate investment in France.
The eight-story office building, located at 115 rue Montmartre, is leased to Natixis on a long-term lease and is primarily occupied by its subsidiary, Banque Privée 1818.
It is the second transaction carried out by La Française Real Estate Partners within a few months on behalf of a Korean investor. La Française Real Estate Partners acquired So Ouest tower in July on behalf of Samsung SRA. The acquisition is also La Française’s first transaction since opening an office in Seoul. With the latest deal, La Française has purchased more than €1 billion ($1.1 billion) in assets on behalf of Asian institutional investors.
Investment in global commercial real estate by investors based in Asia is on track