By Richard Lowe2020-12-18T13:07:00+00:00
Global real estate developer Tishman Speyer and Canada’s Public Sector Pension Investment Board (PSP Investments) have made two major acquisitions in the Paris office market.
They have acquired the 30-year-old skyscraper Tour Cristal in the Front de Seine area and the Carré Saint-Germain, a mixed-use property on Boulevard Saint-Germain.
Meanwhile, BMO Real Estate Partners (REP) bought a mixed-used property on the Champs-Élysées, marking its first club deal in the city with two German pension funds.
No purchase prices were disclosed by the buyers, but IPE Real Assets understands that BMO REP paid between €260m and €300m for the Champs-Élysées asset.
Press release content from PR Newswire. The AP news staff was not involved in its creation.
Tishman Speyer acquires the Carré Saint-Germain in the heart of Paris
December 18, 2020 GMT
PARIS, Dec. 18, 2020 /PRNewswire/ Tishman Speyer announced today that it has acquired the Carré Saint-Germain in central Paris, France, with its partner the Public Sector Pension Investment Board (PSP Investments). The Carré Saint-Germain was acquired from AXA IM – Real Assets acting on behalf of clients.
The iconic 13,800 sqm mixed-used property is located in the heart of Paris, on the prestigious Boulevard Saint-Germain. It is part of the historical Saint-Germain des Prés district and surrounded by the Seine river banks to the North and the Jardin du Luxembourg to the South.