AXA swoops on core Lyon office property

Global investor AXA Investment Managers - Real Assets (AXA IMRA) has acquired a core office property in Lyon from LaSalle Investment Management.

Financial details were not disclosed.

AXA IMRA bought CityOne, a core office property in Lyon's Cité Internationale business district, on behalf of a flagship core fund.

'This acquisition is a rare opportunity to invest in a prime office property within Cité Internationale, an in-demand office destination in the largest regional market in France,' said John O’Driscoll, European head of transactions at AXA IMRA.

'This purchase of CityOne is directly in line with our strategy of investing in core assets in first class locations that aim to provide highly visible and secure income streams.'

The asset comprises two identical eight storey buildings on the bank of the Rhône river, built in 2004 and designed by the Renzo Piano Building Workshop.

The properties provide 17,170 m2 of office space, almost fully let to 21 tenants, as well as two ground floor retail units. The scheme holds a Breeam ‘Very Good’ rating for its sustainability credentials and has an 81-space underground carpark as well as roof terraces for tenant use on the top floors.


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