Sarasin fund invests in the Paris region
The real estate fund Sarasin Sustainable Properties - European Cities has acquired an office building in Levallois-Perret. The location northwest of Paris borders directly on the 17th arrondissement.
The new acquisition is the Le Malraux office building at Avenue André Malraux 20 in Levallois-Peret. It has a leasable area of 4,415 sqm and is currently fully let. According to the acquirers, the largest tenant is Alliance Automotive Europe; it holds over 75% of the space.
Within walking distance of the property, there are services, retail and grocery stores, as well as numerous gastronomic offerings. The building is connected to public transport via a metro station and a bus stop.
The office building was constructed in 1991 and has been gradually modernized since 2015. Further modernizations are planned, especially in the area of sustainability. A special feature of the property is its L-shaped floor plan, which offers flexible space design options. Each floor can be rented individually and divided into two separate rental units each.
The seller of the property is Amundi Real Estate, and Catella Real Estate AG (CREAG) has acquired the property for the Sarasin Sustainable Properties - European Cities sustainability fund, a joint product of CREAG and Bank J. Safra Sarasin. The current purchase increases the fund's real estate assets under management to more than EUR 700 million. This is the fund's second investment in France. (ah)
