Fidelity Real Estate has acquired the Le Verdi building in Paris, the global headquarters of Nestlé Waters, a subsidiary of Nestlé SA.
The property was acquired on behalf of the Eurozone Select Real Estate Fund and was funded in part with a €22m secured loan, said Fidelity.
The building comprises 6,500 m2 and is located in Paris’s Issy-Les-Moulineaux area.
Fidelity’s portfolio manager in France, Aymeric de Seresin, said: “This deal represents another example of our approach in targeting high-quality, modern buildings let to multi-national tenants at an attractive acquisition yield. Through a combination of buying just outside the prime markets and using a moderate amount of competitive leverage, we are able to deliver a high and secure income yield for our clients.”
Fidelity Real Estate was advised by Simmons & Simmons, Bourdeau Consulting, Arsène and Shift Capital.
