PARIS, 2 NOVEMBER 2021: DTZ Investors France has sold an office building located in Issy-les-Moulineaux, to BC Partners European Real Estate I Fund (BCPERE I), which is advised by BC Partners Real Estate (BCPRE), the real estate investment arm of BC Partners, a leading investment company.
Currently let to BNP Paribas Real Estate, the 7,100 sqm office building is located within Issy-les-Moulineaux’s office district. Developed in 2011 by BNP Paribas Real Estate, it has been completed to the highest standards, with ample natural lighting throughout the building, effective air circulation, numerous windows, excellent functionality, and a flexible floorplan. Moreover, it offers immediate access to public transportation networks (RER C, T2 Tramway, Metro 15) as well as to a major bicycle lane toward central Paris.
The property is set along the Seine and across from the Ile-Saint-Germain park and also features an exceptional 300 sqm rooftop, which offers unobstructed views of the city.
“This sale has been completed by DTZ Investors on behalf of an institutional client, as part of a long-term investment strategy. DTZ Investors also follows short and mid-term value-add strategies, by co-investing alongside private equity funds. These value-add strategies are deployed in the office space, where the team has completed more than 1.5 million sqm of development and restructuring projects, but also in logistics and now in activity and retail parks, where we see new market opportunities”, said Alban Liss, Chairman of DTZ Investors (France).
“This fifth investment, and our third one in France, reflects the new real estate paradigm created by technological transformation and reinforced by the health crisis. There is a declining need for standardized workspaces, as employees now have higher requirements for working conditions and expect access to fresh air, sizable outdoor areas, adapted space to brainstorm and socialise and lively and welcoming environments, amongst others. Once renovated, we are confident that this building will meet all these demands” , Thibault Lauprêtre, Partner at BC Partners, said.
BCPRE will significantly renovate the entire building – both the interior and exterior – to improve its environmental efficiency and offer attractive new services, notably transforming its top floor and its rooftop into a restaurant and a social space.
The building is currently certified as HQE NF Bâtiments Tertiaires and is targeting BREEAM RFO Excellent and WiredScore Silver upon renovation. The building will also comply with the Tertiary Decree in terms of energy consumption reductions by 2030.
The operation is financed by CACIB through a “Green Loan” committed to finance projects contributing to the fight against global warming and the transition towards a zero-carbon economy.
DTZ Investors advisors:
* Monassier (Notary)
* KPMG Avocats (Legal and Tax)
* Knight Frank / Stratégie & Corp (Commercialization)
BC Partners advisors:
* Cheuvreux (Notary)
* Gide Loyrette Nouel (Legal)
* Arsene Taxand (Tax)
* Eastdil Secured (Financing)
* Builders & Partners (Technical)
* MBE Conseil (Market)
* Wargny Katz (Notary)
* De Pardieu Brocas Maffei (Legal)
About DTZ Investors France
DTZ Investors, independent subsidiary of Cushman & Wakefield, is an asset and investment management firm focused on real estate. Beneficiating from the expertise of more than 100 collaborators, of which 30 based in France, DTZ Investors currently has €14 billion of assets under management, of which €4 billion in France. The portfolio under management represents more than 430 assets and 2,000 tenants.
About BC Partners Real Estate
BC Partners Real Estate is the real estate investment platform of BC Partners, founded in 2018 by Stéphane Theuriau, Laurian Douin and Thibault Lauprêtre. Before this transaction, the BCPERE I fund had realized four other investments: Wingate House, a mixed-use building in Soho in London (September 2019), a minority in Edgar Suites, an operator specialized in the transformation of offices into next generation hotels (May 2021), Alte Post Kreuzberg, an office building in Berlin (September 2021), and a majority stake in Alsei, a French real estate developer specialized in logistics and industrial parks (October 2021).
About BC Partners
BC Partners is a leading asset management firm with over €40 billion in assets under management across the private equity, private debt and real estate segments. Established in 1986, BC Partners has played an active role for three decades in developing the European buy-out market. Today, senior staff from BC Partners’ offices in North America and Europe work as an integrated team serving multiple markets. Since its foundation, BC Partners has completed 124 private equity investments in companies with a total enterprise value of over €161 billion and is currently investing its eleventh private equity fund.