Abu Dhabi fund plans $1.7bn properties' sale in Paris
17 May 2017 - 23:49
The Abu Dhabi Investment Authority, one of the world’s largest sovereign-wealth funds, is seeking offers for Paris office buildings valued at $1.7bn to cash in on increased investor appetite for French assets, according to three people with knowledge of the matter.
ADIA, as the fund is known, hired broker Cushman & Wakefield Inc to market the properties, the people said, asking not to be identified because any deal would be private. The portfolio comprises 6-8 Boulevard Haussmann, a 24,000 square-meter (258,300 square-foot) office building leased to French bank BPI France, as well as a building in the La Defense business district and a third office in another prime area of Paris.