PGIM Real Estate acquires Paris office campus

PGIM Real Estate has signed an agreement to acquire M Campus, a 45,000-square-meter office campus in Meudon, on the outskirts of Paris.

The property was purchased from a joint venture between Norges Bank Real Estate Management and AXA France, represented by AXA Investment Managers – Real Assets.

Completed in 2006, the office campus is comprised of six class A office buildings. It sits along the banks of the Seine and less than 500 meters from the Boulogne Trapèze office district, opposite Seguin Island. Two of the office buildings were recently renovated. The remaining buildings are fully let to a global business.

“This acquisition of a grade A office campus provides our investors a well-balanced mix of income yield and the opportunity to create value through leasing up the recently renovated buildings. The location of this asset offers an ideal solution for tenants seeking access to the Boulogne Trapèze district,” said Jocelyn de Verdelon, head of Fran