Ivanhoé Cambridge, the real estate division of the Caisse de dépôt et placement du Québec, has sold another office building in Paris.
Financial terms of the deal were not disclosed.
The buyer of 33 rue La Fayette, located in the city’s ninth district, is German real estate investments company Deka Immobilien.
The building has 295,000 square feet of office space and 13,400 square feet of residential space. French industrial conglomerate Areva is headquartered there.
“This transaction fits perfectly with the repositioning of our assets in Europe,” says Meka Brunel, executive vice-president, Europe, Ivanhoé Cambridge.
“In recent months, we have completed certain dispositions of assets that have reached maturity. These assets have been replaced by investments that meet our long-term investment priorities.”
Earlier this month, Ivanhoé Cambridge sold an office building in Paris to American real estate firm Tishman Speyer.
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