Private equity house Ardian has acquired a 70% stake in a major new mixed-use scheme near Paris.
Financial details were not disclosed but Ardian said it was one of its largest property investments to date.
The 53,000 m2 Pointe Amont de l'Île Seguin project, located on the Seine in Boulogne-Billancourt, will be co-developed with Emerige, a developer committed to urban transformation, and AOG, a private investment company.
The scheme is seeking to create an integrated, mixed-use environment in the Vallée de la Culture and the Zac Ile Seguin Rives de Seine developed by SPI Val de Seine Aménagement. This tertiary, leisure, tourist and cultural zone is located close to the headquarters of major companies and is served by public transport.
Work began in August 2022 and is expected to be completed by late 2025.
Said Stephanie Bensimon, head of Ardian's real estate activity: 'With this project, we are signing what will be one of our finest achievements at Ardian Real Estate and one of our largest investments to date.
'Île Seguin is an exceptional site which is ripe for further redevelopment to the highest standards. This project will bring a new lease of life to the area while respecting its heritage and history.
'With our expert partners Emerige and AOG, we will make the Pointe Amont de l'Île an attractive mixed-use area that is respectful of the surrounding environment and provide a perfect setting for people who want to live, work and relax.'
The project consists of three buildings in total. The first is a 22,000 m2 mixed-use building with a cultural focus designed by Catalan firm RCR Arquitectes and French agency CALQ Architecture. The building will house shops, a Pathé Cinéma Multiplex, and a cultural center as well as offices.
There is also a 4-star hotel with around 220 rooms designed by the Austrian agency Baumschlager Eberle Architekten. The space will include bars and restaurants with terraces, a business centre, swimming pool overlooking the Seine and balconies. The final element is an office building also designed by RCR and CALQ with 16,000 m2 of office space.
The new buildings have been designed to complete the island’s cultural scene, such as La Seine Musicale, completed in 2017 and designed by Japanese architect Shigeru Ban in collaboration with French architect Jean de Gastines.
Sustainability targets include HQE sustainable building V3 and BREEAM International New Construction V6.
Said Laurent Dumas, chairman of Emerige's supervisory board: 'We are delighted that Ardian Real Estate is joining Emerige and our historical partner AOG in this exceptional project. For Emerige, this serves as proof of our ability to carry out complex, large-scale real estate operations.'
Emerige was assisted by notary Victoires and law firms De Pardieu Brocas Maffei and Boivin.
AOG was advised by the notary Victoires and law firm Gide.
Ardian was advised by SCP Attal, Linklaters, Lacourte Raquin Tatar, Arsène Taxand, Theop, HPM, Green Affair, In Extenso and PriceWaterhouseCoopers.
