Axa investment Managers actual assets, the property unit of
the French insurer, agreed to buy France’s
tallest skyscraper from affiliates of Beacon Capital companions.
Axa is shopping for tour First on behalf of a collection of
buyers, the asset supervisor said in a declaration on Friday, without
disclosing phrases. The 231-meter high tower, located inside the los
angeles defense region, has extra than 80,000 square
meters (863,500 rectangular ft) of office area.
investors are buying workplace towers in la protection, Paris’s
largest business district as condominium yields are better than in cities like London.
Yields, which fall as prices rise, for the first-class workplaces in la
protection had been approximately 4.75 percent at the stop of September, as
compared with three.five percentage in imperative Paris
and about 3 percentage in London,
in line with statistics compiled with the aid of broker Cushman &
Wakefield.
tour First was built in 1974, one of the first
technology of towers erected as part of a central authority initiative to
create a brand new business district, in keeping with the declaration. Beacon
received a 50 percentage stake in 2007 and then bought the relaxation of the
building as soon as 300 million euros ($325 million) renovations have been
whole in 2011
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