Primonial REIM acquires the “Green Corner”

Primonial REIM announces the acquisition of the “Green Corner” building complex from Covivo, on behalf of a number of its investment trusts, for a total of €167 M excluding rights.

The property is located in Saint-Denis, and has a total surface area of 20,000 m2 and its lead tenant is the Haute Autorité de Santé (HAS). The asset will have secure long-term income flows.

A STRATEGIC LOCATION IN THE LANDY-STADE DE FRANCE COMMERCIAL DISTRICT The “Green Corner” is located right in the heart of the Landy-Stade de France district, one of the most mature districts of the Ile-de-France region which is home to a large number of major tenants (SFR, SNCF, groupe Publicis, Generali…), it has excellent access, notably in terms of public transport with nearby RER B line. The asset will also gain from the completion of the planned Grand Paris Express Line 15 which will be at the base of the building.

A MODERN AND EFFICIENT PROPERTY COMPLEX PROPOSING A WIDE RANGE OF OCCUPIER SERVICES

The building was constructed in 2015 and has HQE Excellent, BREEAM Very Good certification as well as the BBC label. It has well-lit, modular 4,000 m2 floors with effective communication between work spaces and a highly flexible layout. It offers a broad range of user services: company restaurant, meeting rooms, cafeteria, concierge services, accessible terraces and landscaped areas, large patio/inner courtyard garden.

Grégory Frapet, Chairman of Primonial REIM: “We are very proud of this acquisition which fits perfectly with Primonial REIM’s strategy of investing in quality office buildings with secured rental incomes and a high capital gain potential, in this case with the arrival of the new transport networks involved in the Grand Paris project. “

For this transaction, Primonial REIM was advised by the IC Avocats, 14 Pyramides and GR Group Law firms for the legal aspects.

This operation was completed by BNP Paribas Real Estate as part of a co-exclusive mandate with Stratègies & Corp.

About Primonial REIM

Primonial Real Estate Investment Management (Primonial REIM) is a portfolio management company certified by the AMF in 2011; it creates and manages a range of investment schemes based on strong property market convictions. Its main objective is to propose a range of SCPI that invest in office, retail, health/education and residential property to the broadest possible client-base.

As a portfolio management company Primonial REIM sets up and manages OPCI (specifically aimed at either institutional or general public investors). On 10 June 2014 Primonial REIM received AIFM (Alternative Investment Fund Manager) certification from the Autorités des Marchés Financiers (Financial Markets Regulator), and is therefore subjected to strengthened obligations in terms of information, liquidity monitoring and risk management. The Board of Directors includes Grégory FRAPET as Chairman, Stéphanie LACROIX, Managing Director and Tristan MAHAUT, General Secretary.