Primonial REIM France buys Bloom office building in Paris

Primonial REIM France continues to bet on prime offices in Paris. The group announced yesterday that it has successfully completed the acquisition of the Bloom office building, located in the 12th arrondissement of Paris at 61-69 rue de Bercy.

The asset has been acquired from AXA IM Alts, which was acting on behalf of one of its clients. This transaction was carried out on behalf of funds managed by Primonial REIM France. 

An image of the Bloom building in Paris Photo credit: Jared Chulski Photography

The asset, which is in a highly accessible location at the foot of the Parc de Bercy, comprises almost 15,000 sq m of office space with two retail units on the ground floor. All of the office space is currently leased to four tenants on long-term leases.

“In an office transaction market in search of new bearings, we remain alert and attentive to investment opportunities,” said Grégory Frapet, chairman of the management board, Primonial REIM France.

“We are following a very selective strategy in order to acquire sustainable and central office buildings, such as Bloom, which show a strong environmental dimension, modular work spaces and a range of services designed to enhance the comfort and well-being of users, while at the same time contributing to the overall performance for our funds’ investors.”

The Bloom building was completely restructured in 2021 and has received several international environmental certifications: HQE Excellent (September 2021), BREEAM Excellent (November 2021) and WiredScore Gold (February 2020).

The interior of the building

The building has particularly efficient floor plates, providing tenants with flexibility of layout. There is also a garden roof and rooftop space, climate-controlled greenhouses on each floor and terraces with extensive views across Paris.

The transaction was carried out by CBRE Capital Markets.

Primonial REIM France has over €33.5 billion in assets under management and its portfolio spans 11 European countries. The pan-European platform manages 61 funds and its allocation is 45% offices, 34% healthcare and education, 10% residential, 7% retail and 4% hotels.