Ivanhoé Cambridge has invested an undisclosed amount in a 50,000sqm office development in Paris.
The real estate arm of Caisse de dépôt et placement du Québec said it has acquired Joya in Val de Fontenay, being developed by Europequipements and Groupe Quartus, to be delivered in 2022.
Karim Habra, head of Europe and Asia-Pacific, Ivanhoé Cambridge, said: “We are very pleased to have completed this off-market acquisition, which is perfectly in line with our long-term vision for Greater Paris.
“As the COVID-19 crisis is impacting work and business practices, Joya is very well aligned with the future needs of office spaces in terms of occupancy costs, services, flexibility and access to technology.”
To read the digital edition of the latest IPE Real Assets magazine click here.