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GIC acquires Grade A Paris office tower for undisclosed amount
GIC has acquired a Grade A office tower, PB6, in Paris, France for an undisclosed amount.
Located in the La Défense business district, PB6 is a 40-storey asset with 60,000 square metres of prime office space, and is fully leased to EDF.
GIC said: "The asset presents attractive value-creation opportunities, which GIC expects to capture by investing to enhance the asset and service offering. This is in line with GIC's strategy, as a long-term investor, to acquire and add value to quality assets in gateway cities."
The asset will be managed by BauMont Real Estate Capital.