Ardian has sold Paris-based office building to Caisse de Retraite du Personnel Navigant. No financial terms were disclosed.
Paris, November 20, 2020 – Ardian, a world leading private investment house, today announces the sale of a premium office building, centrally located at 14 rue des Pyramides in Paris’ first arrondissement, to the Caisse de Retraite du Personnel Navigant (CRPN). CRPN’s staff will relocate to the building towards the end of 2021.
The 3,700sqm building is centrally located in the Paris central business district, an attractive and thriving area. It is located near the Opera House, the Tuileries Gardens, and the Louvre museum and is easily accessible via the Pyramides metro station (connected to lines 14 and 7).
The Haussmann-style building consists of two interconnected five- and six-story buildings, organized around a central courtyard.
The asset is currently undergoing a complete refurbishment that will increase the office’s capacity, bringing it up to prime market standards and ensuring it meets stringent environmental requirements. The complex will offer flexible and more comfortable workspaces for its tenants.
Stéphanie Bensimon, Head of Ardian Real Estate, said: “This successful sale, despite the uncertain context, is another example of our strategy which is rooted in cutting-edge redevelopment of obsolete, albeit well-located, commercial real estate assets. We conduct these overhauls in France and across Europe – to prepare buildings and their tenants for the future. We are confident that the building will provide a modern and enjoyable work environment for all of the Caisse’s employees.”
Ardian is a world-leading private investment house with assets of US$100bn managed or advised in Europe, the Americas and Asia. The company is majority-owned by its employees. It keeps entrepreneurship at its heart and focuses on delivering excellent investment performance to its global investor base. Through its commitment to shared outcomes for all stakeholders, Ardian’s activities fuel individual, corporate and economic growth around the world. Holding close its core values of excellence, loyalty and entrepreneurship, Ardian maintains a truly global network, with more than 700 employees working from fifteen offices across Europe (Frankfurt, Jersey, London, Luxembourg, Madrid, Milan, Paris and Zurich), the Americas (New York, San Francisco and Santiago) and Asia (Beijing, Singapore, Tokyo and Seoul). It manages funds on behalf of around 1,000 clients through five pillars of investment expertise: Fund of Funds, Direct Funds, Infrastructure, Real Estate and Private Debt. Follow Ardian on Twitter @Ardian