French SIIC Icade said that it has been mandated to manage the landmark Tour First complex, offering over 80,000 m[sup]2[/sup] of office space in Paris' business district of La Defense. The scheme, which is being developed by Beacon Capital Partners' Beacon Capital Strategic Partners V fund, is set to become France's highest skyscraper on completion in March 2011.
French SIIC Icade said that it has been mandated to manage the landmark Tour First complex, offering over 80,000 m2 of office space in Paris' business district of La Defense. The scheme, which is being developed by Beacon Capital Partners' Beacon Capital Strategic Partners V fund, is set to become France's highest skyscraper on completion in March 2011.
The company will take over the property management for the entire tower, while carrying out the HQE energy-efficiency certification process.
'This new success reflects the dynamics of the Icade team,' said Nathalie Palladitcheff, a member of Icade's management board and in charge of property services. 'Icade is currently developing or re-developing around 600,000 m2 of office space at La Defense, 500,000 m2 of which as part of its property services activities and around 100,000 m2 as part of its property investment business.'
Icade is the real estate arm of France's Caisse des Depots, with a turnover of EUR 1.5 bn in 2009 and over EUR 4 bn in property assets.
