Real estate fund management firm Amundi Immobilier has acquired the Olympique office building in the 13th arrondissement of Paris from private equity real estate firm Benson Elliot Capital Management and G茅n茅rale Continentale Investissements (GCI).
Real estate fund management firm Amundi Immobilier has acquired the Olympique office building in the 13th arrondissement of Paris from private equity real estate firm Benson Elliot Capital Management and G茅n茅rale Continentale Investissements (GCI).
The fully let property is located at 9/35 avenue Pierre de Coubertin. All parties declined to disclose the financial details. The property is part of a portfolio of six office properties that Benson Elliot and GCI acquired in the Paris area for EUR 240 mln in 2007.
Offering 10,647 m2 of lettable office space over ground and six upper floors, the building also features 88 parking spaces and a restaurant.
Benson Elliot and GCI said the sale followed a number of successful asset management initiatives at the building during 2010 and 2011, including the signing of a nine-year lease with French publishing company Editis to take the building to full occupancy.
The vendor was advised by BNP Paribas Real Estate, L鈥橢tude Quai Voltaire and Cabinet Gide. The buyer was advised by Wargny Katz and Cabinet Fairway.
