Global real estate investor PGIM Real Estate and Finland's Varma Mutual Pension Insurance Co. bought the six-building M Campus office property on the outskirts of Paris for €256 million, from Norges Bank Real Estate Management and AXA France, CoStar U.K. reported.
The class A buildings are at 2-14 rue de la Verrerie in Meudon, along the banks of the Seine river, and span 45,000 square meters.
M Campus was completed in 2006, with two of its buildings renovated recently. The four others are fully leased to a global business, CoStar added.
The offices were part of a Paris portfolio that Norges Bank Real Estate Management and AXA France purchased in 2011 for roughly €1.4 billion. In February, the two sold one of the offices at 31-33 rue de Verdun, 92 Suresnes, for €126.5 million to M&G Real Estate’s €3 billion M&G European Property Fund.
