French REIT Gecina has announced the acquisition of a 5,000 m2 office building at 8, rue des Graviers in Neuilly-sur-Seine, Paris, for €30.5 mln.
The asset was bought in a privately negotiated transaction with an unnamed institutional investor.
The property is 50% let and also includes 70 parking spaces. It is adjacent to a Gecina-owned building and will allow the group to create a nearly 20,000 m2 office complex.
'This acquisition is perfectly aligned with Gecina’s strategy, thanks to the quality of this building’s location and its effective fit with one of the assets already owned by the group, aiming to further strengthen Gecina’s exposure to the Paris Region’s most central business sectors, while targeting value creation for our shareholders,' commented CEO Méka Brunel.