Norges buys iconic Paris office for €462m

Norges Bank Real Estate Management has acquired a 100 percent interest in 6-8 Boulevard Haussmann property in central Paris. The sales price was €462 million ($543 million).

The sellers of the property are Tamweelview European Holdings SA and Tamweelview Listed Securities Holdings, wholly owned subsidiaries of the Abu Dhabi Investment Authority.

The property comprises 264,000 square feet of office space.

The transaction is scheduled to close by the end of 2017.

Approximately €2.5 billion ($2.9 billion) was invested in the Greater Paris region over the second quarter 2017, taking the overall investment volume for the first half of 2017 to €5 billion ($5.9 billion), according to JLL. This represents a 27 percent year-on-year decrease.

Decreases were seen across all areas in the Greater Paris Region, apart from the Western Crescent, which totaled €1.5 billion, a +28 percent year-on-year.

There has been a complete lack of mega-deals in t