Press release
2006-01-03
SITQ Les Tours acquires 33 Rue La Fayette in Paris
Montréal, March 1, 2006 - SITQ Les Tours, a company jointly owned by SITQ, the Caisse des Dépôts (CDC), the Government of Singapore Investment Corporation (GIC) and UMR, has purchased the AGF property located at 33 Rue La Fayette in Paris for 250 million euros.
Situated in the 9th Arrondissement, 33 Rue La Fayette occupies the entire city block bordered by La Fayette, Lafitte, Saint Georges and De La Victoire streets, considered the financial heart of Paris. This makes it a very high quality acquisition and all the more so because the property is fully leased to a tenant of international dimension.
“This transaction confirms SITQ’s wish to acquire an even more solid base in the European markets,” explains Paul Campbell, President and CEO of SITQ. “That being said, the company will be looking for other major investments in Europe and North America in the coming years.”
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About SITQ
Founded in 1984, SITQ is a real estate investment, management and development firm owned by six financial institutions and pension funds. Its principal shareholder, Caisse de dépôt et placement du Québec, is Canada’s leading fund manager, with net assets of 102.4 billion dollars Canadian.
A leader in the Canadian real estate industry, SITQ owns assets of 6.4 billion dollars Canadian, made up of 116 properties (28 million square feet) located mainly in Canada, the United States, France and the United Kingdom.
Situated in the 9th Arrondissement, 33 Rue La Fayette occupies the entire city block bordered by La Fayette, Lafitte, Saint Georges and De La Victoire streets, considered the financial heart of Paris. This makes it a very high quality acquisition and all the more so because the property is fully leased to a tenant of international dimension.
“This transaction confirms SITQ’s wish to acquire an even more solid base in the European markets,” explains Paul Campbell, President and CEO of SITQ. “That being said, the company will be looking for other major investments in Europe and North America in the coming years.”
- 30 -
About SITQ
Founded in 1984, SITQ is a real estate investment, management and development firm owned by six financial institutions and pension funds. Its principal shareholder, Caisse de dépôt et placement du Québec, is Canada’s leading fund manager, with net assets of 102.4 billion dollars Canadian.
A leader in the Canadian real estate industry, SITQ owns assets of 6.4 billion dollars Canadian, made up of 116 properties (28 million square feet) located mainly in Canada, the United States, France and the United Kingdom.
