European property fund manager Rockspring and French real estate investor Générale Continentale Investissements (GCI) have acquired a 6,200 m2 prime Paris office building.
European property fund manager Rockspring and French real estate investor Générale Continentale Investissements (GCI) have acquired a 6,200 m2 prime Paris office building.
The prime central office complex is located at 5-7-9 rue Jacques Bingen in the 17th district of Paris.
The vendor was insurance company AG2R La Mondiale and the financial details were not disclosed.
Currently offering 6,200 m2 of lettable office space across three adjoining buildings, the complex will be subject to an extensive renovation, creating one single building and increasing the total lettable area to 6,400 m2.
The renovation has a projected delivery date of mid-2014.
This is the first acquisition by the new joint venture between Rockspring and GCI.