Fortress Investment Group has completed the acquisition of a 19,000 m2 office building in the southern Paris suburb of Montrouge.
DTZ Investors advised the investor and will act as project manager for the renovation works as well as asset manager.
Details of the vendor and price were not disclosed.
The property consists of eight multi-storey buildings with 501 parking spaces spread over three basement levels. The asset is almost 50% leased and will be renovated in order to be repositioned in the dynamic Paris office market.