LONDON, June 5 (Reuters) - Blackstone is among

several bidders shortlisted to buy a more than century-old

office block in Paris with a price tag of 700 million euros

($800 million), a source familiar with the matter told Reuters,

in what would be one of Europe's biggest post-pandemic office

sales.

The CityQuartier Trocadéro building is in a prime location

in the 16th arrondissement near the Arc de Triomphe and was put

up for sale by the owner, Germany's Union Investment, in March.

Real estate investor Hines also made the cut, while Commerz

Real, owned by Germany's Commerzbank, also put forward

a bid that was unsuccessful, separate sources said. All sources

declined to be named citing the sensitivity of the process.

Global office prices were crushed after the COVID-19

pandemic upended working patterns, but return-to-office mandates

have started to improve the picture, with investors warming to

buildings seen as trophy assets in desirable locations.

Built in 1913, the 444,000 square feet Paris block also

contains 57 luxury apartments, catering and cafes. It was

originally owned by French bank Societe Generale before being

sold to Union in 2003.

Investors have submitted bids in recent days, with some

coming in under the asking price and closer to 650 million

euros, the first source said. The process is still live and

there can be no guarantee a deal is reached.

A spokesperson for Union Investment confirmed that it had

shortlisted investors and said it had excluded offers below 650

million euros. It declined to comment on individual bidders.

Blackstone, Hines and Commerz Real declined to comment.

Property publication Green Street News first reported that

bidders had been shortlisted, and that others included AXA IM,

Tishman Speyer and a joint venture between Norges Bank

Investment Management (NBIM) and Generali.

NBIM declined to comment, while the other investors named by

GSN were not immediately available for comment.

The building's offices are 98% let and home to tenants

including watchmaker Swatch Group, chocolatier Lindt & Sprüngli

and law firm Reed Smith.

Office sales in Europe last year slumped to their lowest

level since 2009 and transaction levels have remained subdued

this year, according to MSCI data.

($1 = 0.8755 euros)