Real I.S. France is continuing its investments in office real estate in the city centres of major French metropolitan areas.
In Lyon Confluence, on behalf of its open-ended fund RealisInvest Europa[1], the company has just acquired a fully let 6,770 m2 mixed-use building from AG Real Estate France.
Real I.S. acquired FactorY from AG Real Estate France for a total of 46 million euros. Completed in May 2018, this building, designed by the Swiss architect Christian Kerez, who outlined the WWF One Living Planet principle in it, and the Lyon-based agency AFAA (project architect), has seven floors, with a courtyard garden and one basement level. The building is very open, generous with natural light, fully transparent with sleek industrial-look infrastructure, a ceiling height of 3 metres and broad picture windows in horizontal strips, and offers users unrestricted panoramic views of the surrounding landscape. In 2019, the project received the Équerre d’argent architecture award, in the Activités (activities) category.
The 6,240 m2 of offices are fully let to 12 tenants. FactorY is a mixed-use building with 530 m2 of retail space on the ground floor. This space hosts a bakery, beauty salon and bank branch. From an environmental perspective, it has a high-density photovoltaic system on the roof and an optimised energy footprint. FactorY has the following certifications: HQE with an Exceptional passport, BREEAM Construction at Very Good level and Effinergie+.
‘This acquisition offers us the opportunity to extend our portfolio of four local assets in Lyon, by adding this perfectly located office building which is fully let and environmentally sound.’ explains Alexandre Guignard, Director Investment Management International for Real I.S. France.
On one of the islets of Lyon Confluence, Ynfluences Square, a mixed piece of city with positive energy, FactorY is built at the heart of one of the biggest city centre urban renewal sites in Europe. This is why it enjoys a privileged location that is immensely popular with start-ups. At the heart of the peninsula, with its hyper-central location, innovative architecture and exceptional natural sites, the district is setting a European example when it comes to investing in the future.
‘FactorY is aligned with our vision of an environmentally responsible office building. At the heart of the first sustainable district in France with WWF certification, developed to reconcile quality of life and the environment, this innovative mixed-use building provides its users with a unique standard of comfort, in a setting that aims to rethink city living. It is thus aligned with the ESG criteria which guide how we compile our portfolio of properties.’ explains Christoph Erven, president of Real I.S. France.
‘AGRE positioned itself at the start of the development of the Confluence district, taking into account the strong ambitions of the urban project, the mixed-use buildings concentrated around the public marina, and its carefully chosen and complementary real estate portfolio in the Part-Dieu and Gerland districts. After successfully marketing the building to users outside the Confluence area, we are delighted to transfer an asset with excellent management conditions on a market that is now established. AG Real Estate’s ambition in the region is to continue investing in projects located in mixed neighbourhoods which benefit from urban development that is highly attractive to users.’ explains Thibault Delamain, Director General, Head of Investment and Asset Management at AG Real Estate France.
For this acquisition, Real I.S. relied on the advice of the notaries C&C Notaires, the law firm sbkg & associés and Drees & Sommer. AG Real Estate France was advised by BNP Paribas Real Estate Transaction France (in the context of a joint sole mandate with JLL) and the notaries LEXFAIR Notaires.
[1] A fund set up in 2019 for private investors and open to individuals in Germany since 2020.
Photo credit: Maxime Delvaux
