Deals
Singapore Wealth Fund Buys Paris Office Tower for $539 Million
- Tour Ariane has a gross lettable area of 64,500 square meters
- Transaction is expected to close by the end of this year
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Singapore’s sovereign wealth fund GIC Pte has agreed to buy an office tower in Paris’s La Defense business district as demand for office space in the city rises.
The 40-story Tour Ariane has a gross lettable area of 64,500 square meters (694,272 square feet), GIC said in a statement Tuesday. GIC is buying the building for 465 million euros ($539 million) from French real estate firm Unibail-Rodamco-Westfield. The transaction is expected to close by the end of the year.