France-based office and healthcare property investment company Icade has agreed to sell two office buildings in Paris for a total of more than €320 million.
In early February, Icade signed a bilateral preliminary agreement to sell the Millénaire 1 building in the 19th district of Paris with a real estate investment fund managed by Brookfield Asset Management.
The 29,000-sq.m building located in the Millénaire business park in the 19th district of Paris was built in 2007 and renovated in 2018. It is fully let to two first-rate tenants from the financial sector.
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On February 19, Icade signed a bilateral preliminary agreement to sell the Loire building in Villejuif with an investor from the insurance sector.
The Loire building has a floor area of around 20,000 sq.m and was built in 2010. Fully let to the French bank LCL, it is part of the LCL campus, which comprises five buildings with a total floor area of 70,000 sq.m.