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LPA-CGR avocats advises French Fund Primonial REIM on acquisition of 23.000 sqm offices for 118,2 M€.

LPA-CGR avocats has advised French real estate fund Primonial REIM (PREIM) on the acquisition of an office building in France from CarVal Investors and Aquila Asset Management for an amount of 118.2 M€.

This transaction was carried out on behalf of 2 vehicles (SCPI Primopierre and Primovie) managed by PREIM.

The office building located in GENNEVILLIERS (92), rue Henri Barbusse and rue du 19 mars 1962, has a total surface of 22,608 sqm and is rented to 4 main tenants (Panasonic, Tractebel, GRT and Les Petits Chaperons Rouges).

In this transaction, PREIM, which has assets under management of EUR10 billion, was advised by law firm LPA-CGR avocats with a team in Paris led by François-Régis Fabre-Falret (partner), with Diane Forestier (associate) on the real estate investment aspects, and by the Notary Olaf Déchin.

Notary Allez & Associés advised the vendors.