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Inside the Market / Big Deals

La Tour Blanche in Paris’ La Défense business district has changed hands for €161 million

The recently renovated white façade of the Tour Blanche (literally, the white tower) makes it one of La Défense’s more eye-catching buildings.

This 1960s skyscraper was recently acquired for €161 million by Quantum Global Real Estate from a fund advised by Perella Weinberg Real Estate. Quantum Global is an asset management and private equity investment company.

The 27 story tower is comprised of almost 26,000m2 of office space and 124 parking spaces. The building underwent a complete refurbishment that was completed in March 2014. The €41 million makeover included replacing its façade, upgrading the office space and improving its energy efficiency.

The tower is currently leased to ERDF, a subsidiary of the French national electricity provider EDF.

Located to the west of the city, La Défense business district boasts more than 3.3 million m2 of office space and is home to 15 of the top 50 companies in the world.

Credit Photo – ros k @ getfunky_paris

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