Ivanhoé Cambridge Acquires Paris Office Development
- May 27, 2020
Ivanhoé Cambridge has acquired Joya, a 538,200-square-foot office development in Val de Fontenay, Paris. Developers EUROPEQUIPEMENTS and Groupe QUARTUS sold the project, which is scheduled for completion in 2022.
Designed by ECDM architects, the seven-floor property is set to feature adaptable, 64,600-square-foot open floorplans. Planned amenities include meeting rooms, catering services, a wellness area, an auditorium, accessible gardens and patio spaces.
The project is within the eastern business hub of Paris, close to the upcoming Grand Paris station. The area, once popular primarily among banking and insurance companies, has undergone a major revitalization and diversification process over the past years. Known for its quality road service and public transportation system, the location provides connectivity to the city’s main areas.
Lasaygues, Allen & Overy, Lacourte Raquin Tatar and ARC Project Management assisted Ivanhoé Cambridge in the transaction. Prud’homme & Baum and Colliers International advised EUROPÉQUIPEMENTS and QUARTUS. In April, Ivanhoé entered into an $800 million joint venture with LOGOS, Bouwinvest and a Gulf Cooperation Council-based investor, with plans to focus on developing industrial facilities in Greater Beijing, Shanghai, Guangzhou and other core Chinese markets.