Ardian, a world-leading private investment house, announces today the completion of the acquisition of an office complex at 46-48 Avenue de la Grande Armée, in Paris. This transaction is in line with Ardian Real Estate’s strategy of investing in real-estate assets with a strong potential for value creation.
The 8,120 square metre post-Haussmann style complex comprises two interconnected buildings of six and eight floors. The property will be refurbished to prime standards through an ambitious program to optimize the working and tenant service areas, in accordance with key environmental certifications. The complex is very well located in the axis between the Central Business District and La Défense, adjacent to the Argentine metro station (line 1).
The building is also located on the edge of Porte Maillot, an area where numerous redevelopment projects are set to be unveiled in the coming years. Transport infrastructure is also being developed there, notably with the construction of line E of the Grand Paris Express rail network and Tramway T3, whose Porte Maillot stop will open in 2022.
Stéphanie Bensimon, Managing Director at Ardian Real Estate commented: “We are delighted to have completed the acquisition of this high quality office complex, located in a dynamic Paris district. As Ardian Real Estate’s fourth acquisition in France, we look forward to start working on the property’s redevelopment.”
This transaction follows the acquisition of Lagardère’s headquarters in Levallois in 2017. In 2018, Ardian Real Estate acquired the historic Europe 1 radio station’s headquarters Rue François 1er and another building, Place Rio de Janeiro, both in the 8th arrondissement.
List of parties involved
Investment manager/ Purchaser: Ardian
Purchaser’s advisors: Victoires Notaires, Linklaters, De Pardieu, Arsène-Taxand, JLL, Orféo
Architect: Franklin Azzi
Seller’s advisors: BlueBird Immobilier
Source : Company