Rothschild fund invests in the greater Paris area
The Smart Estate fund of Rothschild and its Swiss subsidiary Orox Asset Management has acquired an office building in the east of Paris.
This is the third investment of the smart estate fund, Rothschild and Orox Asset Management announced.
The office building is currently under construction and is scheduled for completion in the first quarter of 2021. It will cover an area of more than 3,300 sqm. The property is located at 44 rue Armand Carrel, a street between Porte de Vincennes and Porte de Montreuil. It will achieve the BREEAM standard "excellent" and will have, among other things, solar photovoltaic panels and a green roof for CO2 capture.
Porte de Montreuil was included in the New National Urban Renewal Program, which aims to strengthen connections between Paris and its surrounding neighborhoods and promote soft mobility. Bas-Montreuil has a vacancy rate of 1.6%, according to Rothschild and Orox; it is connected to central Paris by a direct metro link and has "competitive rent levels" compared to central Paris. (ah)
