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| Commerz Real to invest in Paris Commerz Real, a fully owned subsidiary of Commerzbank AG, just signed the deed for an historic office building in Paris. Raised in 1876, and refurbished as recently as 2003, the property was purchased for the CGS Immo-Spezial institutional fund. It is located in the prestigious 16th Arrondissement between the Arc de Triomphe and the Trocadéro, and thus at one of the choicest addresses in the Central Business District of Paris. The Avenue Kléber property was sold by European Property, a fund managed by Aviva Investors. The investment volume equals approximately 14.5 million euros. Built in the style of Haussmann, the four-storey building has a total office space of 1, 330 sqm. It is finished to the highest specifications, satisfying the most advanced requirements. The property has been fully let to BNP Paribas since 1974. write your comments about the article :: © 2009 Construction News :: home page |