Savills sells prime Paris office building to Real I.S

International real estate advisor Savills has sold 85-87, Faubourg Saint Martin in Paris to REAL I.S. On behalf of AEW, Savills has sold this office building in Paris’ tenth arrondissement to Bayerische Grundvermögen VI (BGV VI) - a special real estate AIF which invests on behalf of German institutional investors for an undisclosed sum. The building comprises 5,560 sqm and includes 113 parking spaces. It has recently undergone extensive renovation and on 1 November was let to the French HQ of online classifieds and community webpage leboncoin, who have signed a ten year lease agreement.   

Tristam Larder, Director of Savills European Cross Border team, comments: “The leasing and subsequent sale of 85-87 rue du Faubourg Saint Martin by AEW is a good example of real estate investors following the tech sector to areas outside the traditional CBD.”