LaSalle signs agreement for the acquisition of landmark RTL building on Rue Bayard in Paris
LaSalle has signed a promissory agreement with RTL Group for the acquisition of the ‘Infinite’ building on behalf of one of its pan-European funds.
Infinite is an office building of 8,000 m2 entirely occupied by the two popular French radio stations, RTL and RTL2. Located on the Rue Bayard in the 8th quarter in Paris, the building is exceptionally well-placed in the heart of the Central Business District, and is close to the renowned avenues of Champs-Élysées, Montaigne and George V.
This landmark building will undergo a renovation program upon the departure of RTL, who are planning to relocate to Neuilly-sur-Seine in the West of Paris.
Karim Habra, Head of France at LaSalle Investment Management, said: “As a landmark building in the Paris Golden Triangle, Infinite is a unique investment opportunity which we believe offers strong upside value. After our acquisition of 69 Boulevard Haussmann at the beginning of this year, this project underlines our ability to identify prestigious properties in the Paris CBD. It also demonstrates the team’s extensive skillset and expertise in building a diversified and sustainable portfolio of Core, Core+ and Value-Add assets in France, while seeking to generate superior performance for our investors.”
About LaSalle Investment Management
LaSalle Investment Management, Inc. (together with its global investment advisory affiliates, “LaSalle”) is one of the world’s leading real estate investment managers. LaSalle on a global basis manages approximately $58 billion as of Q4 2017 of private and public equity and private debt investments. LaSalle’s diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. LaSalle sponsors a complete range of investment vehicles including separate accounts, open- and closed-end funds, public securities and entity-level investments. LaSalle Investment Management, Inc. is a wholly-owned, operationally independent subsidiary of Jones Lang LaSalle Incorporated (NYSE: JLL), one of the world’s largest real estate companies. For more information please visit www.lasalle.com.
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