Abu Dhabi fund seeks $1.7bn sale of Paris office buildings – report

Sovereign wealth fund Abu Dhabi Investment Authority is reportedly looking to sell Paris office buildings valued at $1.7bn.

Bloomberg cited sources as saying the fund is seeking to cash in on increased investor appetite and has hired broker Cushman & Wakefield Inc. to market the properties.

The portfolio is said to include 6-8 Boulevard Haussmann, a 24,000 square-metre office building leased to French bank BPI France, a building in the La Defense business district and a third office in another prime area of Paris.

Savills said in a recent report that take-up of office space in Paris reached a record 330,200 square metres in the fourth quarter as buyers seek to build or renovate cheaply.