Biggest Real Estate Deals in Paris During March and April
Here is a round-up of the biggest real estate deals in Paris concluded from March to April, a period which saw numerous big-money transactions.
Arcange, a real estate investment fund, acquired an ensemble of 2000 m2 of office space and 1000 m2 of further property to be developed. The property is located on the Rue de Chabrol in the 10th arrondissement, next to the Gare de l’Est. (16th March)
CILOGER has signed a purchase deal for a hotel development at Gennevilliers, a Paris suburb, at the end of March. The site is at the avenue Lucien Lanternier, and will be seven stories high with 137 2-star hotels. A Q1 2018 finish date has been set. (29th March)
Axa Investment Managers acquired a 20,000 m2 office building in Montrouge (92), a Paris suburb. A sale and leaseback agreement was agreed with the pharmaceutical giant, Pfizer, current occupant of the building. (4th April)
Redevco, a dutch real estate investment firm, acquired a commercial property asset on the boulevard Jean Jaures in the prestigious suburb of Boulogne-Billancourt. (6th April)
Thor Equities have snapped up the retail space at 54 rue de Rennes (6th arrondissement) in a deal worth 15 million euros. The 267 m2 space is currently leased by an Italian fashionwear outlet, Stefanel. (6th April)
Investment fund Gecina paid 64 million euros for an office building at 145 Rue de Courcelle in the 17th arrondissement. (April 20th)
Infrared Capital Partners has bought up 14,300 m2 of office and retail space in Malakoff, a commune in Hauts-de-Seine. The commune will be one of the beneficiaries of the Greater Paris transport network being built. (24th April)
Epargne Pierre and Immo Placement together purchased 4,603 m2 of offices in Serris, a commune in Ile-de-France. The occupation rate for the business park is 97%, and according to a spokesperson for the partnership, the return on investment is 8.17%.
Meanwhile, Accimmo Pierre (a real estate investment arm of BNP Paribas) acquired a large supermarket development at Pavillons-sous-Bois (93), which will be delivered in Q1 2018 and will comprise of 7,700 m2 of commercial space, divided into 20 allotments. A 10-year lease for the complex has already been agreed. (both April)