Schroder European REIT has exchanged contracts to sell its Boulogne-Billancourt office asset in Paris for approximately €104 million ($122 million).
The new owner was not disclosed.
The building was originally acquired in 2016 for €37.5 million ($44 million), with the company identifying an opportunity to create significant value by undertaking a major repositioning of the asset while taking advantage of the rapidly improving market dynamics in the Boulogne-Billancourt submarket of Paris.
