AXA REIM France sells AXA Tower in Paris (FR)

AXA REIM France, on behalf of Vendôme Croidor and Beacon Capital Partners Group, has entered into a joint-venture agreement with regard to the restructuring of the AXA Tower in the La Défense business district in Paris. The agreements entered into also provide for the acquisition by Beacon Capital Partners Group of the completed Tower upon its completion.

This operation, which qualifies as H.Q.E (high environmental quality) and which is currently under construction, is the first project within the redevelopment of the La Défense area in Paris, France, and will be completed during the 4th quarter in 2010.

Linklaters have acted as advisors to Beacon Capital Partners. De Pardieu Brocas Maffei have acted as advisors to AXA REIM France.

The financing of the transaction has been done by Hypo Real Estate Bank International, Jeantet have acted as advisors to Hypo Real Estate Bank International.

Source: AXA IM

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