BNP Paribas' property arm has divested a 60% interest in CityLights, a major office development in Boulogne-Billancourt near Paris, to BNP Paribas' insurance unit Cardif.
BNP Paribas' property arm has divested a 60% interest in CityLights, a major office development in Boulogne-Billancourt near Paris, to BNP Paribas' insurance unit Cardif.
Financial details were not disclosed.
BNP Paribas Immobilier has sold the City 1 and City 3 sections of the scheme, which is majority let to Général Electric Capital.
Designed by architect Dominique Perrault, the complex is still under development and on completion in autumn 2015 it will provide around 80,000 m2 of office space. The asset is targeting HQE 'Exceptionnel' and BREEAM Very Good environmental ratings.
BNP Paribas Immobilier and BNP Paribas Cardif were advised by law firm Etude Thibierge.