Tishman Speyer has sold Le Cristalia, an office building located in Rueil Malmaison, western suburbs of Paris, in the Hauts-de-Seine department of France, to JRQUIPP, an OPCI backed by Korean institutional investors.
A sales price was not disclosed.
Cristalia is a freehold office building, totaling 21,749 square meters (234,104 square feet). It is made up of three interlocking arc-shaped buildings.
South Korean and Singaporean investors have taken over from China as the exporters of capital in Asia Pacific, reported Real Capital Analytics. While the Singaporean groups have been active on the global stage for more than 20 years, the South Koreans are only just starting to make their mark as global real estate investors.
Singapore’s cross-border investors are the largest exporter of capital from Asia in absolute dollar terms and are known for their global diversification. They have invested in Australia and China, Europe, the United States, and emerging
