PARIS 25 October 2018 – CBRE Global Investors and Fabrica SGR, the advisor and asset manager of the Cicerone Fund respectively, have acquired an office building located at 132 Rue de Réaumur, Paris. The vendor was Société Générale.
The trophy building was built in 1901 for Société Générale who has been the occupier throughout. Following the sale and leaseback, Société Générale has committed to a long-term lease going forward.
The asset is located at the corner of rue Réaumur, rue Notre Dame des Victoires and rue Léon Cladel in Paris’ 2nd district, opposite the Palais Brongniart and metro Bourse. It benefits from excellent visibility on a prestigious location within Paris’ Central Business District. The building has recently undergone a refurbishment.
Gautier Beurnier, Head of Transactions for CBRE Global Investors France said: “This is the first time this trophy building has been marketed for sale and we are delighted to have secured strong secure cash flows for our investor.“
Commenting on the deal, Société Générale said they are delighted to have established with CBRE Global Investors, Fabrica and Cicerone Fund a trustworthy relationship that made this transaction iconic for all stakeholders.
This is the fifth investment for the fund outside of Italy, and the second in the French capital.
Allez&Associés, Allen&Overy, Property S² advised CBRE Global Investors and Fabrica SGR.
Thibierge & Associés, Gide Loyrette Nouel, SG Real Estate Advisory advised Société Générale.