Global private investment firm Ardian has acquired a prime office complex in Paris from Parisian landlord Zaka Investments.
Financial details were not disclosed.
The asset, located at 14 rue des Pyramides, in Paris’ first arrondissement, comprises 3,800 m2 of office space. The Haussmann-style building consists of two interconnected five- and six-storey buildings, organized around a central courtyard.
Ardian said that the asset would be refurbished in order to optimise the office spaces to prime market standards and offer new services to its future users.
Stéphanie Bensimon, Head of Ardian Real Estate, commented: 'We are delighted to have been able to acquire this building located in a very dynamic central district of Paris.
'This business district is one of the most sought-after European markets but with a lack of high quality offers. We look forward to implementing our strategy to redevelop the building, which will count 400 workstations in a modern and pleasant environment.'
Zaka sold the asset just a year after acquiring it. The firm was planning a refurbishment programme for the property at the time of sale.
Ardian was advised by Victoires Notaires Associés and Linklaters. The vendor was advised by L’Etude du 25, while the broker was BNP Paribas.