2024-07-05 0:00 CET, France | Investment Management | Press release
Leases on approximately 19,000 sqm were recently renewed in Tour Ariane in La Défense, representing ca. 30% of the total floor area of this asset managed by BauMont Real Estate Capital and Aquila Asset Management. These long-term lease renewals were signed by in'li as well as by the tower's main and longstanding occupant. Its occupancy rate thus remains at 80%.
When contacted, BauMont Real Estate Capital and Aquila Asset Management declined to disclose the identity of the main historical tenant.
As a reminder, Tour Ariane was acquired in 2018 from URW by Singaporean sovereign wealth fund GIC for €465 million. With a total usable area of 61,140 sqm, it is currently undergoing a renovation program aimed at "offering high-quality, innovative services to its users while significantly improving its energy performance," BauMont Real Estate Capital and Aquila Asset Management noted. "These lease renewals reflect the attractiveness of Tour Ariane, ideally located on the slab of La Défense," they added. The renovation program for this asset is scheduled for completion in Q1 2025.
"We are delighted to see two of our largest tenants renew their commitment to this pioneering tower in La Défense district. This demonstrates the relevance of the asset's repositioning in an extremely competitive market, as well as their confidence in the intrinsic qualities of this prime asset," said Alexandra Podvin, Technical Director and Asset Management at BauMont Real Estate, and Guillaume Riquier, Head of Asset Management at Aquila Asset Management.
