For institutional fund strategies, Quartier Central des Affaires carries the strongest investor flag in Paris, with prime yields around 4%.

  • Trophy submarket (Quartier Central des Affaires) carries the strongest investor flag.
  • Prime yield: 4%.
  • Core funds buy income; value-add buys repositioning of secondary stock.
  • Cap-rate spread between trophy and secondary has widened post-2022.

Paris office fund strategy and flag

For institutional fund strategies, Quartier Central des Affaires carries the strongest investor flag in Paris, with prime yields around 4%.

TL;DR

  • Trophy submarket (Quartier Central des Affaires) carries the strongest investor flag.
  • Prime yield: 4%.
  • Core funds buy income; value-add buys repositioning of secondary stock.
  • Cap-rate spread between trophy and secondary has widened post-2022.

Where core funds buy

Core capital concentrates in trophy stock with long-WAULT income. In Paris, that's Quartier Central des Affaires and assets like Tour Saint-Gobain, Tour First.

Where value-add looks

Value-add capital looks at secondary Class A and convertible Class B with repositioning angle. The trophy/secondary cap-rate spread has widened post-2022, which has reopened the value-add basis for repositioning plays.

Key facts

cityParis
countryFrance
regionEMEA
classARentLocal95 EUR/sqft/yr
classARentUsd$102/sqft/yr
vacancy7.6%
typicalLeaseYears9
typicalRentFreeMonths18
submarkets6
primeYieldPct4%
primeYield4%
trophyAnchorQuartier Central des Affaires

Frequently asked questions

Where do core funds buy in Paris?
Trophy submarket — Quartier Central des Affaires — and the most defensible long-WAULT assets within it.

Editorial provenance

Reviewed by Samuel Okafor — EMEA contributing editor. Last updated 2026-04-15. See our methodology and editorial standards.

Primary sources for this page

Full sources index · Submit a correction

Related topics