by matt | Jul 25, 2023 | deals
Fairway advised Générale Continentale Investissements (GCI) on the continued commercialization of CityLife and the arrival of two new tenants, ALD Automotive, a subsidiary of Société Générale, and LeasePlan, who will shortly moving their head offices there, occupying a total surface area of around 12,000 sq.m. Now 90% leased, this building is located at 28 allée d’Aquitaine in Nanterre, and offers 20,941 sq.m of office and service space.
The building, with a capacity of 1,673 people, already houses the Agence régionale de santé (ARS) since 2020, GFK and Cyanide Studio since 2021, and ABMI and Ticketnet/Ticketmaster since 2022.
“CityLife is an avant-garde project in which we have always believed, and which, over the years, has attracted the attention of many major international groups. Today, we’re delighted with this new deal, which will enable this flagship building to reach its full potential and meet the ambitions of its tenants”, say Rina Benhamou, Director, and Lise Bachmeyer, Senior Asset Manager at GCI.
by matt | Apr 14, 2023 | deals
Fairway advised Unofi in the negotiation of the lease with the lessee CoStar who will set up its French headquarters in the building located at the corner of 81 rue Taitbout / 40 rue Saint-Lazare (Paris 9e) in the 4th quarter of 2023.
CoStar will be the sole tenant of this 1,915 sq.m. ground floor building under a 3/6/9 lease with an average rent of €725 per sq.m. per year (excluding VAT and charges).
“The restructuring of the rue Taitbout building is very representative of the know-how of the Unofi group’s real estate teams and corresponds perfectly to the strategy of the insurance company that owns it. We are delighted that the CoStar Group has chosen us for its French operations”, comments Florence Dourdet-Franzoni, Deputy Managing Director of Unofi.
by matt | Apr 13, 2023 | deals
Fairway advised GCI and Eternam in the financing of the joint venture acquisition of a 4,600 sq.m. historic office complex located near the Opera (Paris 2th). The 8-story building, whose façade is listed as a historical monument, comprises 3,000 square meters of office space and 1,600 square meters of basement space.
The asset is being sold vacant, in its current state, for a price of €58.3 million net of sales.
“This acquisition is in line with our strategy to position ourselves on exceptional assets, particularly well served by public transport and requiring redesign to meet the latest market standards. With our experience and success in the Opera sector, we are confident that this asset will attract high profile users. We are delighted to enter into a new partnership with Eternam, a leading real estate player with whom we share the same vision,” said Raphael Raingold, Managing Partner of GCI.
“This transaction is an excellent opportunity for Eternam to strengthen its exposure in the CBD. This property, by its positioning, history and architecture, has all the qualities required to be a success. We are pleased to be able to revitalize this asset with GCI, an internationally renowned player in the Paris office sector,” said Jonathan Donio, Chief Operating Officer of Eternam.
by matt | Apr 3, 2023 | deals
Fairway advised Mirabaud Asset Management in its partnership with Linkcity, Bouygues Construction’s real estate development subsidiary, for the financing of real estate asset development operations.
With a €100 million envelope dedicated to the acquisition of lands that have already been developed and buildings that need to be upgraded in major French cities, the partnership will make it possible to finance the need to transform cities, in the early stages of development of mainly residential real estate projects.
The projects developed under this agreement will aim to contribute to reducing the carbon footprint, combating the artificialization of land, renaturation and biodiversity.
As part of this partnership, Mirabaud Asset Management acts as Linkcity’s financial partner. By investing as early as possible in real estate projects, the €100 million package, consisting of €20 million contributed by Linkcity and €80 million invested by Mirabaud, will enable Linkcity to finance the acquisition of assets without any conditions precedent for administrative authorizations or marketing, and thus strengthen its action within the regions to create new building spaces from existing ones.
by matt | Mar 7, 2023 | deals
David Franco (partner), Fanny Roiena and Veronika Zaytseva (associates) advised Nexity on a cash credit line of 800 million euros and a package of signed commitments that appear as off-balance sheet items (in particular financial guarantees for completion specific to the French “Vente en Etat de Futur Achèvement” regime) of 2.1 billion euros.
The banking pool consists of Arkéa Banque Entreprises et Institutionnels, Banque Européenne du Crédit Mutuel (BECM), BNP Paribas, Compagnie Européenne de Garantie et Cautions (CEGC), Crédit Agricole CIB, Caisse Régionale de Crédit Agricole Mutuel de Paris et d’Ile de France, La Banque Postale, Natixis, Société Centrale Pour le Financement de l’Immobilier (Socfim) and Société Générale.
This contract replaces the current contract which expired in July 2023 with an increase in the amounts authorized in the previous contract. Historically committed to a low-carbon city, Nexity has chosen to include in this credit agreement environmental impact criteria based on the achievement of objectives related to the reduction of the carbon intensity of the group’s businesses. The credit line includes a virtuous obligation to achieve results by providing for a bonus/malus mechanism on the applicable margin depending on the achievement of these objectives, which will be tested annually.
