BNP Paribas REIM announces the acquisition of the “Le Carat 1” building from a fund managed by J.P. Morgan Asset Management, as part of a share deal. Totalling 18,630 sqm, the two buildings in the complex provide an exceptional location in the heart of the Châtillon-Montrouge office district, in the Paris region. Overlooking the line 6 tramway stop, the asset is also just a few metres from the metro line 13 and the future line 15, expected to come into service in 2024 as part of the Grand Paris Express.
This strategic location in the Parisian Inner Rim also has outstanding real estate fundamentals: the building features floors of about 2,100 sqm each with modern services on eight upper levels and was recently substantially refurbished. It has dual environmental certification: BREAM in use and HQE exploitation is being applied for.
The buildings are 92% leased out with a secured rental situation with blue-chip tenants, including AXA Assistance, a French insurer, which occupies about half of the units.
This acquisition was made on behalf of the SCPI Accimmo Pierre, managed by BNP Paribas REIM France, and fits perfectly with the strategy of the fund, which targets new or recent assets, mainly in or around Paris with a stable rental situation.
“With this investment, BNP Paribas REIM strengthens its strategic position in the Southern River Bend district. Already a landlord through our funds of Carat 2, adjacent to Carat 1, and of the Le Vaillant building just opposite, we now offer a total of over 35,000 sqm with an asset management strategy allowing for a pooled services offering” points out Guillaume Delattre, Deputy General Manager of BNP Paribas REIM France.
For this transaction, BNP Paribas REIM was advised by Wargny Katz and Cabinet Gide. The seller was advised by S2i Partners, the office Lacourte Raquin Tatar, the notary Allez &, as well as Deloitte and Arcadis.