Icade Acquires Full Ownership of Eqho Tower in La Défense with Over 8% Yield
Real estate group Icade has acquired the remaining 49% of the Eqho Tower held by South Korean investors, thus increasing its stake to 100% in this iconic office building in La Défense. The transaction, carried out under financially attractive conditions, values a yield of over 8%.
Acquisition Following Lease Securitization
Icade completed the acquisition of the remaining 49% of the Eqho Tower, a SAS co-owned until July 13, 2026. This operation follows the lease renewal with KPMG and the signing of a new contract with the Hauts-de-Seine Prefecture in 2025, actions led by the group's asset management teams. The tower, fully leased since these renegotiations, now offers increased visibility on its rental income. With a total area of approximately 79,000 sqm spread over 42 floors, the building offers a wide range of services: a 330-seat auditorium, four restaurants, and the largest private fitness space in the business district.
Yield Exceeding 8%
The acquisition generates a yield exceeding 8%, including taking into account the renewal of the KPMG lease. This operation will have a dilutive effect on the group's current net cash flow. Icade notes that the asset was already consolidated in full integration in its accounts prior to this acquisition. The tower benefits from a prime location and accessibility at the heart of La Défense, and boasts a high level of environmental certifications, including HQE Sustainable Building Excellent level and BREEAM In-Use Excellent level.
