Principal Real Estate Europe has acquired an office building in Levallois Perret, Paris, on behalf of a segregated account it manages for SEDCO, the Sharia-compliant Saudi asset manager. The sales price was £137.5 million ($179.9 million)
“This is our maiden acquisition alongside SEDCO Capital and a good example of the type of core-plus asset we are looking to acquire,” said Guillaume Masset, head of transactions and asset management in Europe for Principal Real Estate Europe. “We are currently seeing some excellent infrastructure-linked investment opportunities in specific European cities and sublocations.”
Located directly opposite the metro station at 20–24 rue Jacques Ibert in the Levallois Perret suburb of Paris, the 9,800-square-meter (105,000-square-foot) multi-let office building is fully let to several tenants including the Italian energy company ENI, which is using it as a French headquarters.
Sherif Selim, managing director & global hea
