Singapore鈥檚 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 D茅fense for an undisclosed sum.
GIC said the asset 鈥� which will be managed by BauMont Real Estate Capital 鈥� presents 鈥漚ttractive value creation opportunities鈥�, which the global institutional investor expects to capture by investing to enhance the asset and service offering.
鈥淭his is in line with GIC鈥檚 strategy, as a long-term investor, to acquire and add value to quality assets in gateway cities,鈥� it said.
