EQT is pleased to announce that the EQT Real Estate I fund (“EQT Real Estate”) has sold Trideca, an office building located at 28-34 rue du Château des Rentiers, in the 13th arrondissement of Paris. The buyers are Batipart and its partners ACM, Covéa and BNP Paribas Cardif.
The building is located in the immediate vicinity of the ZAC Paris Rives de Seine district. Built in 1987, it includes 15,400 sqm of offices over nine floors and 245 parking spaces.
Olivier Astruc, Managing Director and Investment Advisor to EQT Real Estate, said: “The office building on Rue du Château des Rentiers benefits from excellent real estate fundamentals in terms of location and potential for continued modernisation. Our teams at EQT Real Estate have unlocked its potential over the last three years and we are pleased to have found a good owner in Batipart who will have the opportunity to write the next page of the value creation story for this asset.”
Thomas Camus, Managing Director of Development at Batipart. added: “We are delighted with this new acquisition for the Batipart development fund which, since its launch three years ago, has already undertaken more than five operations. With this latest acquisition we are continuing our dynamic acquisition policy and are refocusing on Paris. The rehabilitation of this complex will lead to a qualitative repositioning in an area which is increasingly attractive to users and investors.”
EQT Real Estate was advised on the sale by Savills Capital Markets, BNP Paribas Real Estate, Lasaygues & Associés, Ashurst, Arsene Taxand, EY, Shift Capital and Builders & Partners. Batipart was advised by the firm Cheuvreux, De Pardieu Brocas Maffei and Advi Prom.
The parties have agreed not to disclose the financial terms of the transaction.
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