La Française Real Estate Partners has announced the acquisition of an 18,420m2 office building in the 15th arrondissement of Paris (6 place d’Alleray).
The asset has been acquired from JP Morgan AM for French telecom group Orange. No financial details have been disclosed.
The building has been redeveloped between 2012 and 2014 as part of a turnkey rental solution for Orange which moved into the premises in April 2015.
Patrice Genre, Chairman of La Française Real Estate Partners states: “The quality of the tenant along with a recent long-term lease were key elements in the decision to acquire this historic site for Orange which has been fully restructured.”
La Française Real Estate Partners is a part of La Française, a manager with over €50bn in assets under management of which €15bn are invested in real estate.