The collective real estate investment vehicle held by CNP ASSURANCES and managed by La Française purchased the building located 20 rue de Baume in Paris’s 8th arrondissement from Primonial REIM
This 6,000 m² office building, in the heart of Paris’s CBD*, was sold by Primonial REIM on behalf of another major French institutional investor and acquired by the collective real estate investment vehicle held by CNP Assurances and managed by La Française.
The original 1925 building was entirely renovated in 2015-2016 by Prinomial REIM with a “very good” BREEAM rating. It is currently let to Gresham Banque Privée and IMG Models.
In this transaction, the buyer was advised by consultancy Wargny Katz on notarial matters and Baker & McKenzie on tax and legal issues. Technical, environmental and energy audits were handled by Siena, Burgeap and Thermaviva, respectively.
The seller was assisted by Orfeo Développement on technical issues, Allez & Associés on notarial matters and Strategies and Corp on the transaction itself.
*Central business district
CNP Assurances is France’s leading personal insurer with net profits of €1 200 million in 2016. The Group also has operations in other European countries and in Latin America, with a significant presence in Brazil. It has more than 35 million personal risk/protection insured worldwide and more than 14 million savings and pensions policyholders. For 160 years, CNP Assurances has been protecting people against the risks of everyday life. The Group designs and manages life insurance, pension, personal risk insurance and protection products (term creditor insurance and health insurance).
■ In France, CNP Assurances distributes its individual insurance products through La Banque Postale and the Caisses d’Epargne, as
well as through its own network: Amétis. In Brazil, its second largest market, the Group’s partner is Caixa Econômica Federal, the country’s second-biggest state-owned bank.
■ In group insurance, CNP Assurances crafts tailor-made personal risk, pension and term creditor insurance products that are aligned
with the needs of companies, local authorities, mutual insurers, non-profit organizations, and banks in Europe and Latin America.
CNP Assurances has been listed on the Paris Stock Exchange since October 1998 (the first market) and has a stable shareholder structure thanks to the signing of an agreement between its major shareholders (Caisse des Dépôts, La Banque Postale, Groupe BPCE and the French State).
La Française :
Pascale Cheynet | + 33 1 43 12 64 25
Caroline Babouillard | + 33 1 44 56 10 27
Heidi Rauen +49 69 33 99 78 13
CNP Assurances :
Florence de Montmarin | + 33 1 42 18 86 51
Tamara Bernard | 01 42 18 86 19
The information and material provided herein does not in any case represent advice, an offer, a solicitation or a recommendation to invest in specific investments. This press release is for Professional Clients in the UK and EC only and is not for retail consumer use. Issued by La Française AM Finance Services, home office 128, boulevard Raspail, 75006 Paris, France, regulated by the “Autorité de Contrôle Prudentiel” as investment services provider under the number 18673 X, affiliate of La Française.
About La Française Group
For forty years, La Française has been developing core competencies in third party asset management.
La Française has a multi-expertise business model organized around four core activities: securities, real estate, investment solutions and direct financing. The group caters to institutional and private clients throughout the world.
With 639 professionals and offices in Paris, Frankfurt, Geneva, Hamburg, Stamford (CT, USA), Hong Kong, London, Luxembourg, Madrid, Milan, Seoul and Singapore, La Française manages €65.8bn in assets (as at 01/01/2019).
La Française is a forward-looking responsible investor and as such, incorporates tomorrow’s challenges into today’s investment strategy.
La Française is owned by Credit Mutuel Nord Europe (“CMNE”), a banking and insurance group present in Northern France and Belgium.