Tishman Speyer has acquired the Cap de Seine office scheme near Paris from Standard Life for an undisclosed amount. The acquisition is earmarked for the group's OPCI Tishman Speyer French Venture fund.
Tishman Speyer has acquired the Cap de Seine office scheme near Paris from Standard Life for an undisclosed amount. The acquisition is earmarked for the group's OPCI Tishman Speyer French Venture fund.
Completed in 2005, the property offers around 32,000 m2 of office space as well as 548 parking spaces. It is located in Ivry sur Seine, in the southeastern suburbs of Paris, and is leased to Crédit Foncier de France, Stanley, PPD and Banques Populaires, with a further 6,500 m2 of office space still to be leased.
The deal was financed by French banking group BPCE, through its Natixis unit, as well as by Crédit Foncier de France.
Law firms Wargny Katz De Pardieu Maffei Brocas and Accuracy advised the buyer, while Clifford Chance acted for the seller. The lenders were advised by Etude Chevreux and Gide.
