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Altarea, Caisse des Dépôts unit sell 3 Paris office projects to CNP

Altarea SCA, which does business as Altarea Cogedim, and Caisse des Dépôts et Consignations' CDC Investissement Immobilier unit sold three office developments in Paris to CNP Assurances SA, Business Immo reported.

The projects are in the eco-neighborhood of Issy Cœur de Ville where CNP plans to establish its headquarters by 2022.

The two companies are also finalizing the purchase of the insurer's existing headquarters in the neighborhood of Montparnasse in Paris. The transactions are worth a combined €800 million, according to the report.

The three buildings will be built around a landscaped mall consisting of 17,000 square meters of retail space, as well as cinemas and 40,000 square meters of housing and public facilities.

The Issy Cœur de Ville project, which is being developed in partnership with Altarea, is part of a global redevelopment project totaling approximately 100,000 square meters on three hectares of land.