by matt | Feb 5, 2019 | deals
Fairway advised Générale Continentale Investissements (GCI) and Benson Elliot Capital Management (BECM) on the financing aspects regarding the setting up of their partnership for the construction of the Latitude project, in the district of La Défense, in Courbevoie (92). This future building designed by Architecture Studios, resulting from the restructuring and the enlargement of the old building named Berkeley, will able to accommodate 1 800 people. It will be developed by Bouygues Bâtiment Ile-de-France – Renovation Privée (Bouygues Group).
The building, with a surface of approximately 22,300 sq.m, including 22,140 sq.m of office spaces, has great visibility thanks to its proximity to the CNIT. The old parking will host the reception area, the dining area and the trade area, one part staying dedicated to a new parking area of 267 parking spaces completed with area for 2-wheelers and bicycles. In addition, the access to the CNIT, the metro (station Esplanade de la Défense) and the RER A (Grande Arche station) will be facilitated by the creation of stairs and the installation of an elevator.
The delivery is scheduled for march 2020.
“We have been carrying this project for several years and we are convinced that Latitude will contribute to the dynamism of the business district of La Défense. We offer our tenants a high degree of flexibility to respond to all work approaches. Our aim is to expand opportunities in a dedicated environment enhanced by the opportunities of an internationally renowned business district, “said Sharon Raingold, Executive Director of GCI.
by matt | Jan 25, 2019 | deals
Fairway advised Stam Europe on acquiring, from the Casino Group, two logistics platforms of approximatively 110,000 sq.m, on behalf of the Highlands Logistics and Athena Investments funds.
The two assets, located respectively in Besançon and Saint-Etienne, are leased to Easydis (73,000 sq.m) and to the e-commerce company Cdiscount (37,000 sq.m). Both warehouses are secured via long-term leases.
Stam Europe is pleased to have completed these two “sale and lease back” transactions with the Casino Group. “These two stabilized assets offer secure rents and attractive returns for our investor clients,” says Stéphane Guéroult, logistics asset management director, in the press release.
by matt | Nov 23, 2018 | deals
Fairway advised Primonial REIM on the financing and the acquisition of a portfolio of office buildings located in Lyon, from Gecina, whose sale agreement (under precedent conditions) had been signed during the summer 2018 for € 266 million, “deed in hands”.
This portfolio composed of 9 buildings with a surface area of approximately 60,000 sq.m, includes the Terralta, Panoramic and Murano office buildings in the heart of Lyon, as well as other assets located in the Grand Lyon metropolis, Ecully, Caluire and Cuire (69).
“This transaction is part of our strategy to invest in quality office buildings within established geographic areas. Leased to leading tenants, the properties of this portfolio benefit from a very good location in the Grand Lyon metropolis, quality services, as well as environmental performances such as BREEAM In-Use, HQE and Effinergie + “, said Grégory Frapet, the chairman of the executive board of Primonial REIM, in the press release.
Meka Brunel, the managing Director of Gecina, adds: “This transaction is perfectly in line with the Group’s strategy to strengthen its office specialization in the most central areas of the Paris region, where LTV is below 40% as announced during the acquisition of Eurosic. “
by matt | Nov 14, 2018 | deals
Fairway advised JCDecaux Holding in its acquisition of a significant stake, alongside the City of Biarritz (64), in the Hotel du Palais, one of the only luxury hotels along the Atlantic coast, and in the negotiation of a management contract with the new operator of the hotel, Hyatt Hotels Corporation, under the Unbound Collection by Hyatt brand.
In addition to this equity contribution, Socomix, the semi-public company owning the hotel, signed up a € 50 million loan from a banking pool made up of Crédit Agricole CIB (Cacib), CA Pyrénées- Gascogne and La Banque Postale.
This financing will enable the Hôtel du Palais of Biarritz to enter a heavy phase of rehabilitation that should last a little less than two years, with a reopening scheduled in two stages, for the summers 2019 (during the G7 summit) and 2020 (total reopening).
by matt | Nov 13, 2018 | deals
Fairway advised Primonial REIM, owner of Carré Pleyel 2 property, on the legal aspects of the joint venture agreement entered into with AG Real Estate, owner of Carré Pleyel 1 property, to unify these two assets.
The 10-year joint venture will enable, on one hand, all users to benefit from a common base of services, a redevelopment of the common areas and the potential development of joint office areas (5000sq.m) and, on the other hand, to generate synergies between these two real estate assets for the purpose of commercializing vacant areas.
Located near the future Grand Paris station named “Saint-Denis Pleyel”, Carré Pleyel 1 and Carré Pleyel 2 is an office building which develops a surface area of nearly 33 000 sq.m and has 553 underground parking spaces.
Leased to eight tenants, this housing complex offers a range of services with international standards such as an inter-enterprise restaurant, a 150-seat auditorium, shared meeting rooms, a fitness club, accessible terraces and a large inner courtyard.
In the press release, Grégory Frapet, Chairman of the Executive Board of Primonial REIM, states that “this partnership with AG Real Estate illustrates our investment strategy in top range properties located in changing sectors. The housing complex Carré Pleyel presents, in our opinion, a potential rent growth, notably thanks to the arrival of the future Grand Paris station at the foot of the building “.
