Canadian property group Ivanhoe Cambridge has put three landmark Paris office assets on the market in what could be the largest transaction in the French capital this year.
Canadian property group Ivanhoe Cambridge has put three landmark Paris office assets on the market in what could be the largest transaction in the French capital this year.
According to French paper Figaro, the real estate arm of Caisse des dépôts du Québec is looking to sell the headquarters of Vivendi, at Avenue de Friedland near the Champs-Élysées, the head office of Areva situated next to the Opéra, as well as the 25-storey Pacific Tower in the business district of La Défense.
The assets are valued at around EUR 715 mln, according to the paper.
While the Vivendi property is let on a long-term lease, both the Areva building and the Pacific skyscraper are said to have a difficult situation on the tenancy side, with Areva planning to leave the building in autumn 2013, and Societe Generale, the largest tenant in Pacific, due to relocate to a new office in 2015 at the latest.
