EQT Real Estate acquires Le Doublon – a distressed office project in Western Paris
- EQT’s second Paris real estate acquisition in two weeks – a 30,000 square metre office investment, located on Avenue Dubonnet in Courbevoie, Paris, for a purchase price of EUR 51 million
- Purchased out of a safeguard plan – due to underinvestment over the last decade, there are multiple value add strategies to be pursued, including refurbishment and re-leasing
- Asset to benefit from close proximity to the future Grand Paris Express station at Bécon les Bruyères
EQT is pleased to announce its second real estate acquisition, located on Avenue Dubonnet in Courbevoie, Western Paris – a well located submarket between La Defense and the central business district. The distressed investment represents an opportunity to create high-quality office space at a compelling rental basis for tenants, in close proximity to Paris’ two key business districts.
The acquisition comprises a two building office campus with a communal restaurant, substantial landscaped gardens and 740 parking spaces.
Robert Rackind and Edouard Fernandez, Partners and Real Estate co-heads at Investment Advisor EQT Partners, commented: “Le Doublon is a showcase of what EQT Real Estate is targeting in Europe – good value, underinvested assets with several value creation angles, located near strategic transport hubs that will benefit from future infrastructure investment and the associated amenities that come with it.”
“EQT has done a great job in evaluating and executing on what is a legally and technically complicated transaction, in a proactive, professional and commercial manner” stated Will Woodhead, Président of Savills France, who advised EQT on the project.
Ashurst acted as legal advisor to EQT.
Robert Rackind, Partner at Investment Advisor EQT Partners +44 207 430 5555
Edouard Fernandez, Partner at Investment Advisor EQT Partners +44 208 432 5411
EQT Press Office +46 8 506 553 34
EQT is a leading global private equity group headquartered in Stockholm, with approximately EUR 30 billion in raised capital. EQT has portfolio companies in Europe, Asia and the US with total sales of more than EUR 15 billion and approximately 100,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.
Investment Advisor EQT Partners formed a real estate initiative in 2015, to identify investment opportunities in the real estate sector. The Real Estate team consists of 11 investment advisory professionals with vast experience in the European real estate sector.
For further information, please visit www.eqtpartners.com