Clearwater International has advised Klépierre on the sale of the Hachette Tower to a joint-venture established by Générale Continentale Investissements and Infrared Capital Partners.
The Hachette Tower is ideally located in the 15th arrondissement of Paris, in the heart of the Beaugrenelle quarter, between the Eiffel Tower and Mirabeau bridge, and is currently occupied by Hachette Livre as lessee. The building covers a total net usable able area of 13,265 sqm and benefits from 184 parking lots on 30-year leases. The asset offers a significant prospect of revaluation through a full renovation program and will offer high quality offices. After renovation, the tower will also benefit from HQE, BBC and BREEAM accreditations.
The Hachette Tower benefits from easy access and excellent public transportation nearby. Located close to the new Beaugrenelle shopping centre, the asset enjoys the dynamism and the renovation of the area.
Klépierre, the leading shopping center property company in Europe, is present in 40 cities and 13 countries. Its portfolio is valued at €14.1bn as of 31 December 2013 (proforma the sale of a €2.0bn portfolio on April 16, 2014). It offers a unique shopping centre platform to leading retailers, welcoming more than 750 million visitors every year. The Group combines development, rental, property and asset management skills, offering premium services to its shopping centre’s visitors.
The Clearwater International team was led by Laurent Camilli.