Principal Asset Management has sold an office building in the west of Paris to the insurer BNP Paribas Cardif.
The building, located at 19-21 rue Dumont d’Urville and 18-20 rue la Perouse in the 16th arrondissement was sold by Principal Asset Management on behalf of Principal European Office Fund. Completed in 1998, it totals 3,140 square metres over ground and six upper floors and is let to Europa Group. The double-height entrance hall and circular, 500 square metres floorplates allow all the office space to benefit from natural daylight. The sixth floor has been remodelled into a lounge and meeting rooms.
This acquisition enables BNP Paribas Cardif to continue its strategy of institutional investor and asset diversification on behalf of its policyholders through the euro fund and its range in real estate assets.
Source: europe-re.com on the 28th of January 2025
https://europe-re.com/principal-am-sold-paris-office-building-to-bnp-paribas-cardif-fr/73919