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UBS AM acquires €250m luxury retail real estate portfolio in Paris

UBS Asset Management’s Italian real estate arm has acquired a €250m luxury retail real estate portfolio in France’s capital on behalf of a fund.
The manager said it bought the three-asset high street portfolio in Paris on behalf of the UBS Diamond Eurozone Offices (UBS-DEO) fund, which targets core and core-plus investment opportunities in prime locations within top eurozone cities.

The pan-European UBS-DEO fund is managed by UBS on behalf of Poste Vita, the Italian insurance company.
The three assets are located at numbers 12, 14 and 48 of Avenue Montaigne in the eighth arrondissement of Paris.

Source : realassets.ipe.com on September 30 (https://realassets.ipe.com/news/ubs-am-acquires-250m-luxury-retail-real-estate-portfolio-in-paris/10033490.article)