US-based investor Tishman Speyer is under offer to buy the Pacific Tower in Paris' financial district of La D茅fense.
US-based investor Tishman Speyer is under offer to buy the Pacific Tower in Paris' financial district of La D茅fense.
The reported price of 鈧�215 mln.
Vendor Canadian group Ivanhoe Cambridge, which has already signed a preliminary sales agreement on the asset, according to French paper La Tribune.
The 25-storey office scheme was put up for sale last year through Jones Lang LaSalle and Catella together with two other offices, the Areva and the Vivendi headquarters.
Ivanhoe Cambridge, part of Caisse des d茅p么ts du Qu茅bec, has already sold the 10,500 m2 headquarters of Vivendi in the eighth arrondissement of Paris to insurer Cr茅dit Mutuel for an undisclosed amount.
Next to the Op茅ra, between the 2nd and the 9th district, the company is selling the 28,000 m2 headquarters of insurer Areva for some 鈧�200 mln. The asset will be vacated in autumn 2013.
The Pacific Tower, located in Puteaux, is largely occupied by Soci茅t茅 G茅n茅rale but the French bank is due to relocate to a new office in 2015 at the latest.. Delivered in 1992, the scheme reaches a height of 84 metres and provides 11,800 m2 of offices.
Paris has seen a string of deals in the past few months, with some 鈧�700 mln of real estate still up for grabs. According to market sources, Sequana, a 100-metre high skyscraper delivered in September 2010, is being sold by Les Docks Lyonnais for around 鈧�350 mln.
The 43,000 m2 complex in the Seine Ouest district of Issy-les-Moulineaux was developed by French construction group Bouygues and currently houses the headquarters of Bouygues Telecom.
The building was bought by Docks Lyonnais for 鈧�484 mln at the peak of the market in 2007.
Tour Sequana is the largest of a number of properties on the market. In the 17th arrondissement, Dutch listed company Eurocommercial Properties is selling the Passy Plaza retail gallery which was last valued at 鈧�131 mln.
The 8,100 m2 city-centre asset is fully let to major retailers such as Inno, H&M, La Grande R茅cr茅, and Massimo Dutti.
In the regions, Jones Lang LaSalle is selling the Danica office building in the La Part-Dieu business district of Lyon on behalf of its owner Z眉blin Immobili猫re France. The asset is likely to trade for 鈧�60 mln, reflecting a record low yield for Lyon of 5.75%.
