Generali Real Estate acquires two prime office buildings in Paris
Generali Real Estate has completed the acquisition of ‘Coeur Marais’ and ‘Fhive’, two adjacent, fully independent prime office assets located in Le Marais district of Paris.
The two properties, entirely let to a number of French and international tenants, were unveiled in spring 2017 following a two years-long, large-scale refurbishment project.
Coeur Marais (64 rue des Archives) stands out for its strong identity, with 13,200 square metres (sqm) of office spaces surrounding a large central atrium, and a private garden of 500 sq m. Fhive (5 rue Charlot) offers efficient floor plates opening on terraces, for an overall surface of 8,300 sqm.
Both properties are marked by a high degree of energetic efficiency and environmental care, and have obtained the HQE Rénovation and BBC Effinergie Rénovation labels.
One of Paris’ most famous and fashionable districts, Le Marais is attracting a high number of tech firms willing to locate their headquarters in the city centre, which led to a significant increase in the demand for state-of-the-art office spaces.
This operation is in line with Generali Real Estate’s strategy of investing in the main European cities, with a focus on prime office, high street retail and retail assets.
Furthermore, it testifies the company’s active presence on the French real estate market, where Generali Real Estate currently manages a portfolio worth around EUR8 billion, with the Paris area accounting for EUR6.2 billion.
Generali was advised by Fairway, Oudot & Associés, LPA-CGR, Denjean and Turnbull. The transaction was realised by Jones Lang LaSalle acting in a co-exclusive sale mandate with Catella