Horizon French Property Partnership I, advised by Horizon Investment Management, has acquired a 6,500-m2 vacant building in the 17th arrondissement of Paris that was formerly occupied by Prisma Presse. The vendor was Pramerica.

The financial details were not disclosed.

The asset will undergo a major renovation to create a building that meets the latest technical and environmental standards, Horizon said.

Financing for the acquisition and works has been provided by BNP Paribas and Société Générale CIG.