Fidelity International picks up Paris office for €98m

Global private investor, Fidelity International, has purchased an office building near Paris for €98 mln.

Named Prelude and located in the 27 avenue du Général Leclerc in Boulogne-Billancourt, the asset comprises 8,368 m2 across seven stories.

The vendor in the transaction was an equal joint venture (JV) by AXA Investment Managers and Norwegian sovereign wealth fund, Norges Bank Investment Management, which acquired the property in 2011.

The property was purchased for the Fidelity International Real Estate Fund.

The Prelude office is on a site formerly owned by car maker, Renault. It features a five-level, 194-car garage and is fully leased.



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