Sarasin fund invests in Paris
The real estate fund Sarasin Sustainable Properties - European Cities (SSP) has acquired an office property in the 12th arrondissement of Paris. This is the sustainability fund's first investment in the French capital.
The new acquisition of Sarasin Sustainable Properties - European Cities (SSP) is the office building at 37-39 Rue Crozatier. The property consists of two buildings that were restructured in 1991 and partially renovated in 2018. The total area is more than 2,000 sqm, and the property also includes 17 parking spaces. According to the fund management company, most of the property is leased on a long-term basis to a public institution of the city of Paris.
The building complex is centrally located in the 12th arrondissement of Paris, close to the city centre. The Place de la Nation and the Gare de Lyon TGV are within a ten-minute walk. The location benefits from very good public transport links with a dynamic neighbourhood, and major restructuring projects in the neighbourhood mean that the attractiveness of the location is expected to increase further in the coming years, according to the fund management.
The SSP is a fund launched by Bank J. Safra Sarasin together with Munich-based Catella Real Estate Ltd. It targets institutional investors in Switzerland, Austria and Germany and currently has a volume of more than EUR 600 million. (ah)
