South Korean investor Mirae Asset Daewoo has acquired its first asset in France, confirming a partnership with Amundi Real Estate to buy the Tour Majunga skyscraper in Paris.
In April Unibail-Rodamco-Westfield said it had entered into an agreement with a consortium of unnamed institutional buyers for the sale of Tour Majunga office building in the heart La Défense business district for a net disposal price of €850m.
Mirae and Amundi, on behalf of its funds, said they have jointly acquired the building which offers 67,036sqm of space across 45 floors.
Jean-Marc Coly, managing director of Amundi Real Estate, said: “We are delighted to work with Mirae Asset Daewoo to support them in their first acquisition in France.”
Sangwook Nam, general manager of Mirae Asset Daewoo, said: “For our first acquisition in France, we have reviewed several opportunities with our advisor Deloitte.
“We have naturally chosen Paris La Défense, the largest business district in Europe, and Majunga Tower, a new landmark building with high standards.”