Union Investment sells Centre d’Affaires Paris Trocadéro to Blackstone

Union Investment has agreed to sell the Centre d’Affaires Paris Trocadéro to funds affiliated with Blackstone Real Estate for around €700 million. The price is reported to be above the property’s most recent valuation. The deal was signed and is expected to close in the fourth quarter of 2025.

The property, located on Place du Trocadéro in Paris’ 16th Arrondissement opposite the Palais de Chaillot, has a lettable area of about 41,000 square meters. Built in 1913 by Société Générale as a bank building, it was converted into a multi-let complex in the early 1990s. Union Investment acquired the asset in 2003 for its open-ended real estate fund UniImmo: Deutschland at €284 million. Over a 22-year holding period, the asset delivered steady income and value growth for the fund.

Union Investment said the sale proceeds would be reinvested in smaller properties to diversify the UniImmo: Deutschland portfolio and pursue returns aligned with ESG standards. The company noted that the transaction represents its third disposal of a long-held major property from its open-ended real estate funds.

Blackstone described the acquisition as a strategic investment in Paris’ central business district, a market characterized by limited new supply and low vacancy for prime offices.

Union Investment was advised by CBRE, Thibierge Notaires, CMS Francis Lefebvre (legal), and Simmons & Simmons (tax). Blackstone received advice from Attal & Associés (notarial), De Pardieu Brocas Maffei (legal), Darrois Villey Maillot Brochier (tax), and CBRE (technical and environmental).