Tour Blanche

Repositioning of a well-located, outdated office tower

Tour Blanche is a well-located office tower in the centre of La Défense, Paris’ primary business district. The building had historically served as the European headquarters of a large international insurance group, who also owned it.

Fund I acquired the property subject to a short leaseback. At the time of the acquisition, the building was in a poor physical state relative to more modern properties in the La Défense market. Once full vacancy was achieved, a comprehensive refurbishment programme was implemented to fully modernise and institutionalise the property. The highest relevant environmental standards were pursued, with the building awarded the HQE (High Environmental Quality) and BBC (Low Energy Consumption Building) certifications.

The property was fully leased to a wholly-owned subsidiary of a French state-controlled energy company and then sold as a stable prime asset to an international institutional investor.