Europa Capital together with local partner BALZAC Real Estate Investment Management has concluded the sale of Tour Vista in Paris to private UK based investment group Alduwaliya Asset Management for a price in excess of €130 mln reflecting a net initial yield of approximately 5%.
Tour Vista, a 15,700 m², 22-storey office tower located in Puteaux, close to La Defense, was acquired by Europa Fund IV in July 2013 from Pramerica's TMW 'Weltfonds'. Since acquisition, Europa has undertaken a comprehensive refurbishment of the common areas, auditorium, meeting rooms, cafeteria and five vacant floors, four of which it subsequently leased, and also extended the leases of the two principal occupiers, Eurogroup and Reed Communications.
Source: Europa Capital
