US group Tishman Speyer has joined forces with Canada’s PSP Investments to acquire the Espace Lumière building in Boulogne Billancourt from a fund managed by Invesco Real Estate for an undisclosed amount.
Designed by architect Christian de Portzamparc, this iconic 28,000 m2 complex was completed in 2000 and is fully occupied by Canal + which currently uses it as its headquarters but it is due to vacate the building in 2022.
Philippe Joland, senior managing director and chairman of Tishman Speyer France said: ‘We are delighted with this acquisition in such a special environment. With the planned departure of Canal + in 2022, we will be keen to reposition this magnificent building at the entrance to the city. With such large private outdoor areas, this human-scale campus will perfectly meet the new needs of users in terms of health and well-being, but also flexibility and efficiency. We aim to make it a real positive destination for its future occupants by 2024.’
The deal was brokered by JLL. Funding was provided by Aareal.
