Primonial REIM France acquires the "influence" office complex from Tishman Speyer

Primonial REIM France has just announced that – alongside EDF Invest and fund management Samsung SRA – it has completed its acquisition of the “Influence” office complex in Saint-Ouen (Île-de-France, northern Paris) from funds managed by Tishman Speyer

The “Influence” office complex's sole tenant is the Île-de-France’s Regional Council under a 12-year long-term lease.

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A RECENTLY DOUBLE-CERTIFIED COMPLEX

Delivered in 2017, the real estate complex designed by Jacques Ferrier Architectures has a surface area of nearly 33,000 m² and is made up of two seven-level building structures.

Influence features a number of high-quality features that meet the very latest international standards sought by large-scale users. These include high ceilings, spacious offices with direct sunlight structured around a central garden that can be divided up to adapt to changes in work patterns, a wide selection of top-of-the-range services, such as two company restaurants, a concierge service, a general public conference room, a gym and 2200 m² of green spaces and terraces.

The building also meets high environmental standards, as illustrated by its dual certification: BREEAM ("Very Good"level) and HQE (“Excellent"level).

A STRATEGIC LOCATION IN SAINT-OUEN’S DOCKS BUSINESS PARK IN A MATURE AND WELL-ESTABLISHED TERTIARY DISTRICT

Influence is ideally situated in Saint-Ouen (Île-de-France) on the outskirts of Paris, overlooking the River Seine in the new Docks eco-district.

This ambitious eco-district is subsidised by the State and features a truly mixed-use of urban spaces. It was designed in accordance with stringent environmental norms – it is made up of low-energy buildings.

Influence is in a prominent position in the Docks' business park located at the entrance to the district. It is well served by public transport (the L13 and L14 metro lines, the “C” regional express train and bus routes), so its users can easily get to the capital's mainline stations. It is also well situated near a number of major trunk roads.

Grégory Frapet, CEO of Primonial REIM France, said:  N“We are delighted with this sale completed alongside EDF Invest and a Samsung SRA fund, and to have the Ile-de-France Regional Council among our tenants. This acquisition is in line with our strategy of investing in sustainable office blocks which meet very high environmental standards and which feature modular working areas and numerous services for the comfort and well-being of their users. By investing in mixed-use urban spaces – such as the Docks eco-district – we are helping to transform and enhance the value of the city, while at the same time providing our investor clients with long-term security regarding their revenue through long leases entered into with the building's tenants”. 

For this sale, Primonial REIM France was advised by law firm LPA for legal considerations, solicitors’ firm 14 Pyramides for the notarial aspects, the Essor group for the technical considerations, Denjean & Associés for the accounting and financial considerations and KPMG Avocats for fiscal considerations.

Tishman Speyer was given legal and fiscal advice by law firm De Pardieu Brocas Maffei and solicitors’ advice by Wargny-Katz.

The sale was completed by Nexity Conseil & Transactions (NCT) and Strategies & Corp. The banking pool was made up of BNPP and Société Générale (lead arrangers), together with BPI France and Raiffeisen Bank (participating lenders).

About Primonial REIM

Primonial REIM brings together more than 400 employees in France, Germany, Luxembourg and Italy and applies its core values of conviction and commitment, as well as its expertise on a European scale, to design and manage real estate funds for its national and international clients, whether individual or institutional.

Primonial REIM has €30 billion in assets under management. Its allocation breaks down into: 50% offices, 32% health / education, 10% commerce, 6% residential, 2% hotels. The pan-European platform manages 61 funds and brings together more than 80,000 investor clients, of which 54% are individuals and 46% institutional. Its real estate portfolio is made up of more than 1,400 buildings (offices, health / education, retail, residential, hotels) located in nine European countries.

About EDF Invest

EDF Invest manages non-listed asset classes in EDF's portfolio of Dedicated Assets, funding the decommissioning of nuclear power plants in France. EDF Invest targets three asset classes: infrastructure, real estate and private equity. It has investments both in France and abroad, providing a certain level of long-term security and visibility.

About Samsung SRA

Samsung SRA is a subsidiary of Samsung Life Insurance, the largest insurance company in South Korea with USD 205 billion of assets under management. Samsung SRA manages 59 funds with a total value of 15.92 billion USD. These funds are invested in Asia Pacific, North America and Europe.

About Tishman Speyer

Tishman Speyer is one of the world's biggest owners, developers, fund managers and managers of top-of-the-range real estate assets. Founded in 1978, Tishman Speyer operates on 28 key markets across the US, Europe, Latin America and Asia. Tishman Speyer builds and manages residential, commercial and office assets for the world's biggest companies, as well as major R&D centres through its subsidiary Breakthrough Properties. Tishman Speyer has a global vision, a local long-term presence on its markets and capacity to deploy bespoke solutions, and has a unique ability to encourage innovation, adapt quickly to world and local trends and proactively anticipate its clients' varied requirements. By focusing on health and well-being, on creating places that encourage personnel to flourish and develop, and on tools that serve its clients – such as its tenant service platform, ZO and Studio, its brand of flexible spaces in collaboration, Tishman Speyer does not just look after its physical buildings: it also looks after the users who are there on a day-to-day basis.

Tishman Speyer has acquired, developed and managed 453 projects representing some 19.5 million m², worth a total value of US$97 billion. Tishman Speyer’s portfolio currently includes a number of iconic assets, such as the Rockefeller Center in New York, The Springs in Shanghai, TaunusTurm in Frankfurt and the Mission Rock district currently being developed in San Francisco.