Brookfield Asset Management Inc. (TSX:BAM.A) signed a preliminary agreement to acquire Millénaire 1 Office Building located at 35 Rue de la Gare, Paris from Icade SA.

Brookfield Asset Management Inc. (TSX:BAM.A) signed a preliminary agreement to acquire Millénaire 1 Office Building located at 35 Rue de la Gare, Paris from Icade SA (ENXTPA:ICAD) in early February 2021. In a related transaction, Icade signed a bilateral preliminary agreement to sell the Loire building in Villejuif with an investor from the insurance sector on February 19, 2021. The combined deal value will be more than €320 million.

Funds managed by Apollo Global Management originated a €161.3 million, 5-Year, Floating Rate Senior loan for the acquisition. The proceeds from these disposals will mainly be used to finance Icade Santé's growth and gradually reduce the LTV ratio. As of May 6, 2021, Brookfield Asset Management, accompanied by Hemisphere, has confirmed the acquisition from Icade.