German pension fund Bayerische Versorgungskammer is in discussions to acquire the 114 Avenue des Champs-Elysees building in Paris, Bloomberg reported, citing people familiar with the matter.
An entity controlled by the family of French billionaire Christopher Descours put the asset on the block for €700 million in late 2017, the news outlet noted, citing CoStar News.
The building will house an Apple store, scheduled to open in 2019, and includes office space above.
Neither the seller nor the prospective buyer commented on the matter. Hines Interests LP, which is advising Bayerische Versorgungskammer on the transaction, declined to comment, Bloomberg noted.
Morgan Stanley and Jones Lang LaSalle Inc., which were hired to market the property, also did not provide a comment, according to the report.
