Canadian investor Ivanhoe Cambridge has acquired a significant office campus development to the east of Paris from developers Europequipements and Groupe Quartus.
Financial details were not disclosed.
The project, dubbed Joya, will be delivered in 2022 and comprises 50,000 m2 of space in Val de Fontenay, close to the up-and-coming Grand Paris station.
Designed by Emmanuel Combarel of ECDM architectes, Joya will feature 6,000 m² of flexible office units over seven floors, plus amenities including catering, a wellness area, auditorium, meeting rooms, gardens and patio spaces.
'We are very pleased to have completed this off-market acquisition, which is perfectly in line with our long-term vision for Greater Paris,' said Karim Habra, head of Europe and Asia-Pacific, Ivanhoe Cambridge.
'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,' Habra added.
'Joya is a great example of the long-standing, positive forecasts about the depth of the market in eastern Paris and Val de Fontenay, which will continue to attract large businesses looking to take advantage of this hub renowned for the quality of its road service and public transports,' said a spokesperson for Europequipements and Quartus.
Ivanhoe Cambridge was advised in the transaction by Lasaygues, Allen & Overy, Lacourte Raquin Tatar, and ARC Project Management
Europequipements and Quartus were represented by the firm Prud’homme & Baum and by Colliers.
