Orrick Paris advised Principal Real Estate in acquiring the 8,100-square-meter Silly 1 building, located at 161 Rue de Silly in Boulogne-Billancourt, near Paris. Principal Real Estate acquired the property on behalf of one of its German funds to SCPI Ufifrance Immobilier, managed by Primonial REIM.

The nine-story office building has been occupied since 1992 by the French subsidiary of the German group Henkel.

Sarah Fleury led our team, with assistance from Anne-Sophie Kerfant and Margaux Azoulay on tax aspects.