AXA sells French office building to Allianz-owned firm for €100m

Immovalor Gestion, an asset management firm owned by Allianz, has bought the Le Synapse office building in Châtillon, 7km south-west of Paris, for a sum reported to be in the region of €100 mln.

The 21,400 m2 building was acquired on behalf of two funds from AXA Investment Managers – Real Assets. The insurance giant purchased the property at the end of 2014 for an investment of €90.9 mln.

The building, formerly known as Le Diagonal, is fully let to Siemens and Mutex, each of whom occupy around 10,000 m2 at an annual rent of €280 per m2.


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