Aviva Investors acquires SoCo building in Paris
Aviva Investorshas acquired the ‘SoCo’ building at 44-48 rue Saint Lazare in Paris 9ème, from Groupama Immobilier, on behalf of one of its mandates.
SoCo comprises 5,500 sq m of office space over six upper floors. It is fully let to digital transformation business Fabernovel as its global head office. The building is located in the Paris Central Business District, close to the Saint-Lazare public transport hub, one of the most sought-after office districts in Paris.
The building is showcased by an iconic 1930s façade and was completely redeveloped in 2017 to fit the most recent tenant’s requirements. Organised around an inner garden, the interior spaces have been opened to maximise the contribution of natural light. The ground floor and garden level have been converted into a flexible space, with a contemporary café, workshop rooms and coworking areas.
The building restructuring aims to achieve ambitious environmental certifications: HQE level Excellent, BREEAM level Very Good and the BBC effinergie label.
Adrien Beuriot, Head of Asset Management Continental Europe, Aviva Investors, says:
"Located in the heart of the Paris technology cluster and meeting the latest environmental standards, the iconic Soco building at 44-48 rue Saint Lazare is fully let, through a long-term lease, to one of the leaders in the digital transformation business. This acquisition fits perfectly with Aviva Investors' European office investment strategy.”
In this off-market acquisition, CBRE was buy-side advisor. Aviva Investors Real Assets was advised by Screeb Notaires (Aurélien Bourdet and Aurélie Paresys), Gide Loyrette Nouel (Hugues Moreau) and Manexi. Groupama was advised by Lexfair Notaires.