Aerium acquires Paris property from private Irish investor

Aerium Properties 7, on behalf of a private Luxembourg fund, has acquired a mixed use property located on the corner of 24/28 av d’Iéna and 1 av Pierre 1er de Serbie in the 16th arrondissement of Paris from a private Irish investor. The sale price was €10.5m, reflecting a net initial yield of 6.4%. Comprising 1,200 sq m (12,917 sq ft) of office and retail space the property accommodates tenants bank BFT and specialist embroider of home linen, Noël. Pascal Rupert, director of Savills investment, says: “More than €1bn of investment was carried out by family offices in 2009 equating to 12% of the overall investment volume. This was principally invested into assets ranging €10-€50m.” International real estate advisor Savills represented Aerium.