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«Commerz Real acquires the fully let office scheme “Espace Dumont d’Urville” in Paris for its “Euro Office 1” institutional fund. It is sold by Klépierre, a shopping centre operator in which BNP Paribas banking group holds a majority interest. The total investment volume for the property, which has a gross lettable area of about 3,100 sqm, approximates 32.7 million euros.
“The idea behind the acquisition is to expand the commitment of our institutional funds in France. This April, we already acquired a property in a comparable prime location,” said Hans-Joachim Kühl, Member of the Board of Commerz Real AG and in charge of real estate acquisitions. “Paris is an interesting real estate market for us, and we intend to remain active here across funds.”
The office building is let to SEGECE, a fully-owned member company of Klépierre that specialises in the property management of shopping malls. The building is located in the prestigious 16th Arrondissement within the Central Business District of Paris. It can be accessed either from rue Dumont d’Urville or from rue La Pérouse. Both streets run parallel to the Avenues d’Iéna and Kléber. Trocadéro, Arc de Triomphe, and several metro stations are within easy walking distance» ( CS della Società) .
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