Blackstone has confirmed the acquisition of a landmark office property in Paris’ Trocadéro district for $819m (€700m), signalling renewed confidence in Europe’s premium office market, Reuters reports.

The private equity group purchased the century-old Centre d’Affaires building from German investor Union Investments, which originally acquired the asset for €284m in 2003. Covering 41,000 sqm, the property includes 57 luxury apartments as well as cafes and catering facilities.

“This acquisition underscores our confidence in the European office market and belief that the right assets in prime locations continue to offer compelling opportunities,” said James Seppala, Head of Real Estate in Europe at Blackstone.

The deal comes amid subdued office transaction activity across Europe following the pandemic, with investors selectively targeting prime properties in strategic locations. The transaction is expected to close in the fourth quarter of 2025.

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