SINGAPORE (Oct 16): GIC has agreed to acquire Tour Ariane, a 40-storey office tower with a gross lettable area of 64,500 sqm for approximately €465 million ($741 million), from Unibail-Rodamco-Westfield.  

Located in the heart of the La Défense business district in Paris, Tour Ariane is within walking distance from two main transport hubs and multiple amenities. Its accessibility and connectivity will further benefit from the Grand Paris project, which will reduce connection times to major airports and train stations.

The asset will be managed by Baumont Real Estate Capital. The transaction is subject to standard conditions precedent and is expected to close in the fourth quarter of 2018.

GIC is the global investment firm that manages Singapore’s foreign reserves and has over US$100 billion ($138 billion) in assets under management.