Tishman Acquires Cap de Seine Building in Paris
The purchase adds 327,000 square feet to the firm's portfolio and is Tishman's second transaction in Paris this year.
December 20, 2010
By Allison Landa, News Editor
Courtesy Flickr Creative Commons user Ivan Walsh
Tishman Speyer has made a major international purchase. The developer-owner has acquired the Cap de Seine Building in Paris, adding 327,000 square feet to its portfolio.
Completed in 2004, the building is located on the Seine riverbank in Ivry-sur-Seine, a Parisian suburb. Its tenants include financial firms Credit Foncier de France and Stanley Solutions de Securite, healthcare companies PPD France and the French health insurance office, and IT solutions firm AGFA.
According to Tishman senior managing director Michael Spies, the Ivry-sur-Seine is poised to benefit from tightening space availability in Paris’s central business district. He added that the company is continuing to grow its Paris portfolio, which now exceeds 3.5 million square feet. The company’s European portfolio exceeds 8.5 million square feet.
The transaction is Tishman’s second Paris acquisition this year.
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