Activity picks up in the French capital
Paris — the city of light, the city of love. The city of commercial real estate investment?
It seems that some institutional real estate investment action is finally taking place in Paris, with French buyers moving into the office market.
Paris-based Primonial Real Estate Investment Management (REIM), on behalf of an OPCI investment fund, has paid €165 million for an office building originally built in 1870 and that served as an engine factory for French car manufacturer Panhard. The 21,700-square-metre property, located on Avenue d’Ivry in the 13th Arrondissement, was sold by Emerige and AOG. It was redeveloped into offices from 2010 to 2013 and is currently occupied by SNCF, the French national railway company.
Another French investor, Amundi Real Estate, has acquired the offices at 122–126 Rue du Cha