Axa Reim France, on behalf of the Vendome Croidor fund, is selling the Axa Tower in La Defense business district of Paris to Beacon Capital Partners for an undisclosed amount. Axa Reim said it is joining forces with Beacon for the redevelopment of the building, after which the tower will be transferred to the US investment company. This 160-metre high office tower, built in 1974 by insurer UAP, will undergo a large-scale renovation starting this year. The renovated Tour Axa will provide some 86,707 m[sup]2[/sup] of office space and at 225 meters will become the highest skyscraper in France.
Axa Reim France, on behalf of the Vendome Croidor fund, is selling the Axa Tower in La Defense business district of Paris to Beacon Capital Partners for an undisclosed amount. Axa Reim said it is joining forces with Beacon for the redevelopment of the building, after which the tower will be transferred to the US investment company. This 160-metre high office tower, built in 1974 by insurer UAP, will undergo a large-scale renovation starting this year. The renovated Tour Axa will provide some 86,707 m2 of office space and at 225 meters will become the highest skyscraper in France.
Axa Reim said in a statement that this is the first project in the redevelopment of La Défense area and it will be completed by the end of 2010. Linklaters advised Beacon capital Partners on the transaction. De Pardieu Brocas Maffei acted for Axa Reim France. The financing was provided by Hypo Real Estate Bank International.
