Tishman buys in Paris

The New York firm has purchased an office block in the centre of the city for a European core fund.

Tishman Speyer, the New York developer and investor, has bought an office in the centre of Paris for a core fund.

The firm has acquired a 140,000 square foot headquarters building for $95 million (€65 million) in a sale and leaseback transaction, it said in an announcement today.

The building has been sold by SCI Vendome, a subsidiary of French insurer Axa and is occupied by Axa Corporate Solutions. The company will continue to occupy the building on a long term lease.

It has been acquired for the Tishman Speyer European Core Fund. The building is located near the Gare St Lazare, at the border of the 8th and 9th Arrondisements.