InfraRed Capital Partners has joined forces with French private group Générale Continentale Investissements to acquire the Hachette Tower, a central Paris office property, from Klépierre.
InfraRed Capital Partners has joined forces with French private group Générale Continentale Investissements to acquire the Hachette Tower, a central Paris office property, from Klépierre.
Financial details were not disclosed.
The Tower is located near the Beaugrenelle mall in the regenerated Front de Seine area of the 15th district of Paris along the river Seine. It comprises 13,265 m2 of office space and is currently fully let to a single occupier that has given notice to vacate.
After departure of the tenant in early 2015, the building will be refurbished with plans to receive HQE, BBC and BREEAM energy efficiency ratings.
'This investment is an exciting opportunity to reposition a fundamentally strong asset and create a compelling tenant proposition that offers Grade A space, located in the heart of Paris at a highly competitive rent level,' commented Cedric Vallin, responsible for InfraRed real estate investments in France. 'The timing of this investment is very favourable, coinciding with the recent opening of the adjacent Beaugrenelle shopping centre and the wider regeneration of the Front de Seine area.'
