French pension fund Mutuelle Médicis has acquired four development projects in France from sellers JCA, Hill & Associés and Cirmad for a total of EUR 25 mln. The High Environmental Quality (HQE) projects will provide 7,500 m[sup]2[/sup] of space on completion in 2010 and 2011. Adyal advised Mutuelle Médicis on these transactions and will take over the management of the properties.
French pension fund Mutuelle Médicis has acquired four development projects in France from sellers JCA, Hill & Associés and Cirmad for a total of EUR 25 mln. The High Environmental Quality (HQE) projects will provide 7,500 m2 of space on completion in 2010 and 2011. Adyal advised Mutuelle Médicis on these transactions and will take over the management of the properties.
The company has purchased an office building with 1,753 m2 of space located in Neuilly-sur-Seine due for delivery in December 2010. The portfolio also includes a mixed-use asset with 2,361 m2 in Montigny-Le-Bretonneux which will house the new headquarters of ISS Espaces Verts from January 2010 as well as two properties located in the city centre of Tourcoing offering 3,400 m2 of office space and 87 hotel rooms respectively. The office building is due for delivery in February 2011, while the hotel will be operated by B&B Hotels and will open its doors in December 2010.
'La Mutuelle Médicis continues to pursue the strategy launched in 2007 to move its portfolio towards sustainable properties', said Olivier Le Flour of Adyal Transactions, which advises Mutuelle on its real estate strategy.
