PARIS 21 October 2019 – CBRE Global Investors has acquired, on behalf of a separate account client, an office building located in Paris. The vendor was MGEN.
The 4,370 sqm building is located on Avenue Ledru Rollin, near place de la Bastille in one of Paris’ most dynamic and vibrant neighborhoods. Built in the 1920’s, this corner building benefits from excellent visibility with large and efficient floorplates.
This acquisition fits a strategy of investing in assets located in work-live-play submarkets and tech clusters providing significant rental upside. A number of short and medium-term asset management initiatives have been identified to increase the building’s value.
Lasaygues, Linklaters, Reed Smith, Artelia and Ramboll Environ advised CBRE Global Investors on this acquisition.
MGEN were advised by BNP Paribas Real Estate in the context of an exclusive sales mandate.
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About CBRE Global Investors
CBRE Global Investors is a global real asset investment management firm with $106.7 billion in assets under management* as of June 30, 2019. The firm sponsors investment programs across the risk/return spectrum for investors worldwide.
CBRE Global Investors is an independently operated affiliate of CBRE Group, Inc. (NYSE:CBRE). It harnesses the research, investment sourcing and other resources of the world’s largest commercial real estate services and investment firm (based on 2018 revenue) for the benefit of its investors. CBRE Group, Inc. has more than 90,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 480 offices (excluding affiliates) worldwide. For more information about CBRE Global Investors, please visit www.cbreglobalinvestors.com.
*Assets under management (AUM) refers to the fair market value of real asset-related investments with respect to which CBRE Global Investors provides, on a global basis, oversight, investment management services and other advice and which generally consist of investments in real assets; equity in funds and joint ventures; securities portfolios; operating companies and real asset-related loans. This AUM is intended principally to reflect the extent of CBRE Global Investors’ presence in the global real asset market, and its calculation of AUM may differ from the calculations of other asset managers.