Primonial REIM France sells 10,000m2 in Paris 8th and Neuilly-sur-Seine to Morning

Paris, November 10, 2022 - Primonial REIM France announces that it has signed two leases with Morning for the full leasing of two restructured office complexes - MIO and 179 CDG - each benefiting from a prime location in Paris CBD and Neuilly-sur-Seine.

Primonial REIM France has recently carried out a complete restructuring of the two assets, with the aim of completely repositioning the buildings to bring them up to the best market standards, both in terms of use and environmental certification. The MIO building was handed over to Morning in July, and the 179 CDG building in September.

Details of redevelopment operations

The Building 179 CDG in Neuilly-sur-Seine covers 7,247m2 and is strategically located on the Paris-Neuilly-La Défense axis. The main challenge of the restructuring was to create a link between two originally independent buildings, while providing maximum comfort and well-being for users. The office volumes were entirely redesigned to optimize natural light, duplex units were created, the old façade was replaced by a full-height glass façade, 1,200 m² of outdoor spaces were created (3 gardens, a roof top at R+10, 5 accessible terraces) as well as a glass roof. 179 CDG is the first redeveloped building to be awarded "HQE BD V3" certification at the exceptional level. It has also been awarded BREEAM Excellent certification, WiredScore Gold certification and Biodivercity certification.

The MIO asset, located in the heart of the business district in the 8th arrondissement of Paris, is the union of two Haussmann buildings and covers 2,700m2. Restructuring has optimized access to the various levels, with the creation of a central staircase and two elevators. Spaces were also redesigned, with the creation of meeting rooms in the basement, the layout of new office floors and the creation of skylights on the top floor and in the basement to bring in natural light and enhance working comfort for building users. In addition, the entrance hall overlooking an inner courtyard has been completely redeveloped, and a space dedicated to soft mobility has been installed. The building has been awarded BREEAM Excellent certification and WiredScore Gold certification.

Charles Ragons, Director of Asset Management at Primonial REIM France, comments:"We are delighted to welcome Morning, a leader in the coworking sector, as a tenant of our two assets, 179 CDG and MIO, a true testament to the expertise of our teams in repositioning assets to the highest functional and environmental standards. The signing of long-term leases demonstrates the strong appetite of companies for office buildings offering top-quality amenities, flexible and efficient spaces and an adapted range of services. "

Founded in 2014, Morning is recognized as the French leader in coworking. The company is now backed by Nexity, a solid player in the real estate sector, alongside the original shareholders and its founder.

For the MIO building, Primonial REIM France was advised by ARC as general contractor, Quadriflore as architects, BUILD ONE as general contractor and BNP Paribas Real Estate Transaction France as landlord's agent.

For the 179 CDG building, Primonial REIM France was advised by ORFEO Développement as general contractor, Agence Petraccone and Vodar as architects, DMOX as general contractor and Fayat Bâtiment as contractor.

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About Primonial REIM

Primonial REIM employs over 400 people in France, Germany, Luxembourg, Italy, Singapore and the UK. The company applies its values of conviction and commitment, as well as its expertise on a European scale, to design and manage real estate funds for its national and international customers, both private and institutional.

Primonial REIM has over 33.5 billion euros in assets under management. Its conviction allocation breaks down into : 45% offices, 34% healthcare/education, 7% retail, 10% residential, 4% hotels. Its pan-European platform manages 61 funds and brings together more than 80,000 investor clients, 53% of whom are private individuals and 47% institutional investors. Its real estate portfolio comprises more than 1,526 properties across all major asset classes, located in 11 European countries.