Global investment firm KKR and development business Tivoli Capital have inked an agreement to develop a series of flexible office spaces in France's largest cities.
The new developments hope to replicate the success of Tivoli's Marseille co-working scheme, iLOV'iT, according to the firm. Currently the largest co-working centre in France's second city, with a surface area of almost 3,700 m2, Tivoli said that the scheme represented a blueprint for the platform planned with KKR.
'From the beginning, we wanted to develop our presence in France,' said Guillaume Pellegrin, founder of Tivoli Capital.
'We are pleased to have signed an agreement with KKR, who will support us in all areas of our development. Our goal is to transform the market, putting human beings at the heart of our project to be able to offer the ideal workspace in the 2020s for entrepreneurs and companies, regardless of their size, in all major French cities,' Pellegrin added.
Mai-Lan de Marcilly, director at KKR in the European real estate team, said: 'Guillaume and his team have real expertise in the acquisition and development of innovative real estate projects within France, with a unique approach to improving quality of life at work. With this agreement, our aim is to become a leader in the French professional co-working space.'
KKR’s investment is being made through its real estate partners Europe fund.
