Transactions - JANUARY 21, 2016

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Beacon to sell Paris skyscraper

by Andrea Waitrovich

U.S.-based Beacon Capital Partners is under contract to sell Tour First, an office tower in Paris. The 52-story Tour First, the tallest skyscraper in France, is located in Paris’ La Défense business district.

Real Capital Analytics has identified AXA Real Estate as the buyer, and the sales price is estimated to be more than €800 million ($868.8 million). An official announcement has not been released. Beacon Capital Partners acquired the 865,038-square-foot skyscraper in 2007 for €470.1 million ($509.3 million).

Tour First, built in the 1970s, was comprehensively redeveloped between 2007 and 2011. The tower, designed by Pierre Dufau, resembles three wings around a central core. The new tower and podium reorganize the entry levels of the building, reinvigorate the entrance hall and improve circulation. Seven sky gardens are created in strategic positions and provide informal meeting and breakout spaces. The original tower was made taller,

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