Valesco Group completes €460m office acquisition, largest office deal of the year

The Valesco Group, a European real estate fund manager, has completed, via a sale and leaseback, the €460 million ($503 million) acquisition of Sequana Tower in Issy-les-Moulineaux, Val de Seine business district, close to Paris.

The transaction is the first by Valesco’s new fully discretionary fund, which had a recent first close anchored by sovereign capital.

The iconic tower in Paris serves as the global headquarters of Accor SA, one of the largest hospitality groups in Europe and sixth largest globally. The property is fully let to Accor on a 12-year term. The acquisition represents the largest office deal of the year in Continental Europe and the largest office deal in France since 2021.

The 26-story, 43,027-square-meter (463,139-square-foot) tower, which was awarded the Eco Building Performance