SEB bought the Cap de Paris office building in the Paris suburb of Montrouge for $67.5 million from pharmaceuticals group Pfizer. The property was bought for its SEB Europe REI open-ended real estate special fund, launched in 2009. "Additional investments are planned in the course of 2010 to increase country diversification," the company said.
The Cap de Paris building offers 87,187 square feet of office space and is fully leased to French publishers La Martinière Groupe under a six-year lease which started in March. SEB said Montrouge is now one of the most important office locations in Ile-de-France due to its links to Paris public transport and to the regional and national motorway network.
Allan Saundersonis a managing editor of Property Investor Europe and a contributor to GlobeSt.com.Want to continue reading?
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