Aviva Investors Real Estate France, a subsidiary of Aviva France, has acquired an office building in Paris on behalf of one of its clients from the Paris Ile-de-France Chamber of Commerce and Industry (CCI).
The property known as 18 Toudic is situated in the 10th arrondissement of Paris and was built in 1930. The former customs warehouse features Art Deco architecture.
The asset will be fully restructured, in line with its original architecture, to offer approximately 6,500 m2 of office space spanning over nine floors with high ceiling heights, external spaces and a panoramic view across Paris.
The property is located at 18 rue Yves Toudic, close to Saint Martin canal, which hosts the headquarters of several start-ups, fashion and tech companies.
Grégoire Bailly-Salins, head of transactions Europe at Aviva Investors Real Estate France said: 'With its strong architectural identity, its location prized by talents and the ambitious rehabilitation program we will pilot, ‘18 Toudic’ is an asset with strong value creation potential, perfectly aligned with our investment strategy.'
Aviva Investors Real Estate France was advised by Screeb Notaires (Aurélien Bourdet), BNP Paribas Real Estate and Théop.
The Paris Ile-de-France CCI was advised by l’Etude Cheuvreux (Séverine Lebovici).
Source: propertyeu.info on the 10th of January