French REIT Icade has announced the acquisition of the Orsud office building in Gentilly, in the southern suburbs of Paris, as well as the sale of the Twist office project in the Clichy-Batignolles development zone of the French capital.
In Gentilly, the property arm of Caisse des Dépôts bought a 13,000 m2 scheme from an investment fund managed by Oreima, formerly known as Ofi REIM, for €50 mln.
The building is entirely leased.
In Clichy-Batignolles, Icade has agreed to sell the Twist office development project to Groupe des Assurances du Crédit Mutuel for an undisclosed amount.
Twist will provide 10,340 m2 of space on completion, planned for the fourth quarter of 2018. The scheme is targeting several environmental ratings including HQE and BREEAM Excellent.
