Union Investment has acquired an office development at 40-42 Rue de la Folie Regnault in Paris 11 as a forward funding (French VEFA). The property will be partially demolished and fully restructured according to the latest market standard. Completion is scheduled for mid-2023. The seller is Paris-based property developer Groupe Terrot. The property is acquired on behalf of the institutional open-ended property fund UniInstitutional European Real Estate. The parties have agreed not to disclose the purchase price. It is the fourth acquisition in Paris within twelve months. Union Investment most recently acquired three office buildings in Paris CBD at 5-7 Avenue du Coq, 59 Boulevard Haussmann, and 60B Avenue d'Iena.
Source: Europe-re.com on the 21th of October 2022
https://europe-re.com/union-investment-acquires-paris-office-development-fr/71017