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Le Lavoisier Acquisition in Paris La Défense

Zurich-based Credit Suisse Asset Management has acquired the Le Lavoisier office building in Paris La Défense from French manager Primonial REIM.

The office complex, located at 4 place des Vosges in the La Defense business district west of Paris, was acquired for a CSAM real estate fund. The building offers 9,400 sqm of office GLA and is more than 90% occupied by eight tenants.

Paris-based Belvedere Capital provided investment management on behalf of the Swiss buyer during the transaction.

In a combined statement, its two founders, Bruno Cohen and Silvio Estienne, commented: "We are delighted and proud to have helped our prestigious client to reposition itself in France through this investment, which will fully benefit from the dynamism of the La Defense market - particularly the growing share of small and medium-sized space in the immediate vicinity."

Belvedere was advised in the Lavoisier transaction by the notary C&C, legal practice Clifford Chance and Macogep for technical due diligence. Primonial REIM was assisted by the notary 14 Pyramids. This transaction was brokered by the investment department of BNP Paribas Real Estate, as part of a co-exclusive mandate with CBRE.

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