Global alternative asset manager Tikehau Capital has acquired a 30,000 m2 office asset on the outskirts of Paris which it plans to reposition as a sustainable, ‘new-generation’ building for its pan-European value-add strategy.
The acquisition marks the 14th purchase to date for Tikehau Real Estate Opportunity 2018 (TREO 2018), which held its final close in February 2020 with €560 mln of additional equity raised, bringing assets under management to €755 mln.
The Paris property is located adjacent to a warehouse area near the port of Gennevilliers and is part of an urban regeneration and change-of-use scheme. Tikehau said it represents an opportunity to contribute to the regeneration of the local area as well as add further value through ESG-related improvements, such as lower energy use, fewer greenhouse gas emissions and a reduction in transport-related pollution.
‘Acquiring this asset represents a further milestone for our fund’s aim of investing in underutilised buildings which have the potential to be regenerated to support the creation of new-generation buildings that are better positioned for future use,’ said Frédéric Jariel, co-head of Tikehau Capital's real estate activity.
