Primonial REIM France announces the acquisition of the office building BLOOM (Paris 12th)
Paris, Thursday 5th January 2023 – Primonial REIM France today announced that it has successfully completed the acquisition of the Bloom office building, located in the 12th arrondissement of Paris at 61-69 rue de Bercy, from AXA IM Alts, which was acting on behalf of one of its clients. This transaction was carried out on behalf of funds managed by Primonial REIM France.
Benefiting from an exceptional location at the foot of the Parc de Bercy and excellent accessibility, the asset comprises almost 15,000 square meters of office space and two retail units at the foot of the building. Having been entirely restructured and delivered in 2021, Bloom comes with numerous international environmental certifications: HQE Excellent (September 2021), BREEAM Excellent (November 2021) and WiredScore Gold (February 2020).
The building has particularly efficient office floors, offering tenants optimal flexibility in terms of layout and first-day working space throughout. This property also benefits from modern and contemporary architecture, a garden roof and rooftop space, climatic greenhouses on each floor and terraces with breathtaking views across Paris and its nearby neighborhoods.
All of the office space is currently leased to four tenants as part of long-term leases.
Grégory Frapet, Chairman of the Management Board of Primonial REIM France, stated:"In an office transaction market in search of new bearings, we remain alert and attentive to investment opportunities. We are following a very selective strategy in order to acquire sustainable and central office buildings, such as Bloom, which show a strong environmental dimension, modular work spaces and a range of services designed to enhance the comfort and well-being of users, while at the same time contributing to the overall performance for our funds' investors.”
Primonial REIM France was advised for this transaction by Allez&Associés for notary matters, LPA-CGR for legal, ETYO for technical aspects and KPMG Avocats for tax. The transaction was carried out by CBRE Capital Markets.
About Primonial REIM
Primonial REIM brings together more than 450 employees in France, Germany, Luxembourg, Italy, Singapore and the UK and applies its core values of conviction and commitment, as well as its expertise on a European scale, to design and manage real estate funds for its national and international clients, whether individual or institutional.
Primonial REIM has over €33.5 billion in assets under management. Its conviction-based allocation breaks down into 45% offices, 34% healthcare/education, 10% residential, 7% retail and 4% hotels. The pan-European platform manages 61 funds and brings together more than 80,000 investor clients, of which 53% are individuals and 47% institutional. Its real estate portfolio is made up of more than 1,526 buildings located in 11 European countries.
Photo credit: Jared Chulski Photography
PRIMONIAL REIM press contacts
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