FdR, Caisse des Dépôts buy Paris Motel One hotel project

French developer Vinci Immobilier has sold a three-star Motel One hotel project in France to Foncière des Régions and Caisse des Dépôts for an undisclosed amount.

The hotel, located at Porte Dorée in the 12th arrondissement of Paris, will be the German budget hotel chain's first establishment in France.

Developed by Vinci Immobilier for Foncière des Régions and Caisse des Dépôts on a 50/50 basis, and designed by architects MCBAD, the hotel will offer 255 rooms, a lounge bar and a south-facing terrace, providing a total of 6,300 m2 of space and 48 parking spaces. Motel One has taken a 12-year lease on the asset, which is scheduled for completion in the first quarter of 2018.

The hotel is targeting a BREEAM Very Good environmental energy certificate.

The deal follows the launch of a strategic partnership in February 2015 between Foncière des Régions and Motel One.