A joint venture of French real estate investment trusts Icade and Altarea Cogedim has sold a 12,400-m2 office project in Lyon's seventh district for a gross sum of EUR 42 mln. The buyer is Foncière Investissement, a subsidiary of the Crédit Mutuel Arkéa group.

The acquisition, involving the so-called Opale building, allows Arkéa to consolidate its position in the area, where it already owns the 12,000-m2 Ambre scheme, located adjacent to Opale. The asset was sold in July last year by developers Icade and Altarea Cogedim.

Designed by architects Marc Mimram, Opale is fully pre-let to Banque Postale, which will be relocating all its offices on completion of the scheme in the first quarter of 2014. The building is targeting NF HQE BBC label.