Aviva Investors has purchased the SoCo building at 44-48 rue Saint Lazare in an off-market deal from Groupama Immobilier, on behalf of one of its mandates.
Financial details were not disclosed.
The building, which is fully let to digital consultancy Fabernovel, comprises 5,500 m2 of office space over six floors. It is situated in the Paris Central Business District, in the ninth arrondissement of Paris, close to Saint-Lazare station.
'Located in the heart of the Paris technology cluster and meeting the latest environmental standards, the iconic Soco building at 44-48 rue Saint Lazare is fully let, through a long-term lease, to one of the leaders in the digital transformation business,' said Adrien Beuriot, head of asset management Continental Europe, Aviva Investors. 'This acquisition fits perfectly with Aviva Investors' European office investment strategy.'
Featuring a 1930s façade, the building was completely redeveloped in 2017 around an inner garden, to maximise the contribution of natural light. The ground floor and garden level have been converted into a flexible space, with a contemporary café, workshop rooms and coworking areas.
The refurbishment has targeted HQE level excellent, BREEAM level very good and the BBC effinergie label.
CBRE advised Aviva on the deal. Screeb Notaires (Aurélien Bourdet and Aurélie Paresys), Gide Loyrette Nouel (Hugues Moreau) and Manexi contributed legal advice.
Groupama was advised by Lexfair Notaires.