Oxford Properties makes third Paris purchase
Oxford Properties, the real estate arm of the Ontario Municipal Employees Retirement System, is under contract to purchase PariSquare in Paris from Stam Europe, AEW Europe and Tristan Capital Partners. The sales price was not disclosed. Hines represented the buyer and will be the asset manager of the project.
PariSquare is located in the 11th arrondissement of Paris. It is a newly developed 259,410-square-foot urban office campus, comprising five interconnected buildings. The asset includes 17,760 square feet of retail space, a 210-seat auditorium and a 16,146-square-foot restaurant.
The acquisition represents Oxford’s third investment in Paris. The firm acquired 32 Rue Blanche in 2014 for €263 million ($347.1 million) and 92 Avenue de France in the Rive-Gauche submarket for €200 million ($227 million).
Oxford’s Paris portfolio is valued at €750 million ($849 million), which is more than halfway towards its target to buildin