Allianz Real Estate has bought an office scheme in the commune of Levallois-Perret, north of Paris, from an unnamed vendor for EUR 115 mln. The transaction was completed on behalf of French companies of the German Allianz insurance group.

The building offers 20,000 m2 and is fully leased to a blue-chip company with a 10-year fixed term lease contract. Allianz Real Estate France was advised by the notary's office, Uguen / Vidalenc & Associés.

The purchase comes hard on the heels of Allianz Real Estate's EUR 260 mln acquisition in December of two office properties in Issy-les-Moulineaux from Credit Suisse's frozen open-ended fund CS Euroreal.