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.”