French private equity firm Anacap Financial Partners announced on Tuesday that it has invested in a newly built Grade A office in Paris.
The acquisition will be made through an off-plan forward contract for a 16,300 square meter asset located in Bobigny. This will allow the company to increase its presence in the active Paris real estate market, where the vacancy rate is currently 1.8%.
The building was designed by Leclerc Associés and developed by BNP Paribas Immobilier Promotion (ENP: BNP) and GA Smart Buildings. Acting as part of Bobigny’s wider redevelopment project, with tenants seeking large, affordable properties close to Bobigny, it will include 140,000 square meters of offices, 1,380 new residential units and 8,000 square meters of public Services, there are plans for 20,000 square meters of public space. “In the heart of Paris.”
It is located near the Bobigny Metro and is expected to have access to three additional transport links by 2025.
Anacap’s comment
Sébastien Wigdo, Investment Director at AnaCap Financial Partners, said:
“This investment represents an opportunity to develop a high-quality property adjacent to a Paris metro station, in an emerging area undergoing meaningful transformation, and an asset that we believe will offer exceptional risk-adjusted returns. It is also part of our strategy to continue to build on AnaCap’s established investment track record in France and across Europe by carefully selecting
Elsewhere on the premises. Schroders Real Estate Investment Trust (LON: SREI) disposes of low-yielding assets, Land Securities Group (LON: LAND) reports disappointing results, Shaftesbury Plc (LON: SHB) Barclays Group Holdings (LON: BKG) reiterated its confidence in the Southeast market as the company recorded strong leasing activity.
