AG REAL ESTATE announces the acquisition from SAVILLS Investment Management of an office building measuring 8,200 m2, located at 25 Boulevard Romain Rolland in the 14th arrondissement of Paris.
AG REAL ESTATE announces the acquisition from SAVILLS Investment Management of an office building measuring 8,200 m2, located at 25 Boulevard Romain Rolland in the 14th arrondissement of Paris, close to the Porte d'Orleans and the ring road.
The transaction was achieved in collaboration with CBRE and Savills as part of a co-exclusivity sales mandate. The AG Real Estate teams were advised by Foncière Atland as Investment manager and Bruno Casteran of the C&C notary office. The seller was advised by the Wargny notary office.
This 8-storey building, with 173 parking spaces in the basement, is known as "Cap de Paris" and was built in the 2000s. Previously, La Martinière occupied most of the space, but the building is now 95% vacant.
Cap de Paris enjoys excellent public transport connections, with the main Parisian transport hubs within easy reach.
The automation of metro line 4 will provide even faster access to three of the major Parisian stations (Gare du Nord, Gare de l'Est, Montparnasse) as well as Charles de Gaulle airport thanks to the future CDG express line.
Thibault Delamain, Managing Director of AG Real Estate France and Head of Investment & Asset Management France comments on this transaction: "This operation demonstrates our teams’ capability to work on value-creating assets. Cap de Paris is located in an area of dynamic demand and boasts very good real-estate fundamentals such as its accessibility, the rational organisation of its very bright floors, its corporate restaurant and its high visibility from the ring road and the Porte d’Orleans. Our ambition is to reposition the building in its market by redeveloping it to the highest standards while enhancing the building’s capacity and providing a range of services suited to the new habits of the future occupants of the offices. Accordingly, we will design top-flight offices and common areas that can be adapted to different ways of working with flex plug & play spaces, encourage creativity with collaborative and meeting areas, and relaxation in indoor and outdoor well-being and convivial spaces. We are aiming for Breeam, WiredScore and Osmoz certifications to highlight our smart, hyper-connected offices."
About AG Real Estate
AG Real Estate, a wholly owned subsidiary of AG Insurance, is active in various real-estate businesses: asset & property management, development & construction management, PPP and real-estate finance, and car-park management via its subsidiary Interparking. AG Real Estate has a portfolio that it manages, for its own account and for third parties, worth more than €6.5 billion. It has more than 250 employees with multiple profiles and skills, and employs nearly 2,300 people in car-park management in nine European countries.
About AG Real Estate France
AG Real Estate France is the French subsidiary of AG Real Estate, an acknowledged leader in the Belgian property market. On the French market, AG Real Estate France focuses on its core business of property development and investment in corporate real estate.
At the end of 2018, AG Real Estate France had developed nearly 200,000 m² for the service sector and 300,000 m² for logistics, worth some €1.4 billion, including the portfolio of pure investments made over the same period. In the spring of 2019, the portfolio of projects it controls has a potential of around 400,000 m². The new portfolio is highly diversified between offices, retail, logistics, business hotels and car parks.