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La Française REM snaps up Boulogne office scheme

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La Française REM has acquired the Jazz office building in the Western Parisian district of Boulogne-Billancourt from French listed property company Eurosic for an undisclosed amount.

The acquisition was made on behalf of eight of La Française REM's SCPI vehicles.

Designed by architect Carlos Ferrater and developed by Nexity, the Jazz scheme was delivered in 2010 and provides nearly 7,000 m2 of office space as well as 500 m2 of retail on the ground floor and 131 parking spaces.

The scheme boasts a HQE Construction and Good BREEAM in-Use environmental ratings.

Tyre manufacturer Michelin relocated to the complex in 2011 and signed a nine-year fixed lease.

Cheuvreux advised the vendor while Allez & Associés acted for the buyer. Cushman & Wakefield brokered the deal.