Europa Capital has completed the acquisition of the Tour Vista office tower next to business district La Defense in Paris.
Europa Capital has completed the acquisition of the Tour Vista office tower next to business district La Defense in Paris.
Tour Vista is the third acquisition for Europa Capital's latest pan-European investment fund, Europa Fund IV. The vendor was a fund managed by Pramerica Real Estate Investors.
The investment volume was not disclosed but PropertyEU reported in October 2011 that Pramerica had instructed Savills to put the building on the market for about €140 mln
Savills and CBRE co-advised the vendor in the transaction, along with notary Allez & Associes.
Europa Capital was advised on the acquisition by Jones Lang LaSalle and Balzac REIM, the latter being retained as asset manager, together with law firm Dentons and notary Le Breton & Associes.
Tour Vista overlooks the River Seine in Puteaux, on the southern edge of La Defense, Europe’s largest office district. The property, originally constructed in 1973 and comprehensively refurbished in 2007, comprises 15,800 m2 of office accommodation arranged over 22 floors.
The building is 80% occupied and the principal tenants are Reed Exposition and Eurogroup Consulting.
