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South Korean investor acquires Paris office building for €280M

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South Korean investor acquires Paris office building for €280M

An undisclosed South Korean institutional investor bought the Tour Europe office tower is Paris' La Défense district for roughly €280 million from a U.S.-based seller, marking a 4.5% yield, Property Week reported.

According to the building's website, it offers 28,500 square meters of total space, a majority of which is leased to EDF Group's energy services company Dalkia, with about 11,700 square meters available for lease.

Inmark and GG Capital advised on the transaction, PW reported May 29.