Singapore’s GIC has bought a 40-storey Paris office tower fully-leased to French electric utility firm EDF.
The sovereign wealth fund said it has acquired the 60,000sqm PB6 building in La Défense for an undisclosed sum.
GIC said the asset – which will be managed by BauMont Real Estate Capital – presents ”attractive value creation opportunities”, which the global institutional investor expects to capture by investing to enhance the asset and service offering.
“This is in line with GIC’s strategy, as a long-term investor, to acquire and add value to quality assets in gateway cities,” it said.
