Ivanhoé Cambridge acquires Joya, a 50,000 m² office development in Greater Paris
Ivanhoé Cambridge has acquired Joya, an office campus development totalling 50,000 m² (538,200 ft2 ) in Val de Fontenay, developed by EUROPEQUIPEMENTS and Groupe QUARTUS. The project will be delivered in 2022.
The project is in the eastern business hub of Paris, close to the upcoming Grand Paris station (RER lines A and E, and later on new metro lines 1 and 15), providing excellent connectivity to the city’s main areas. Traditionally home to back-office functions of major banking and insurance companies, over the past few years the attractiveness and diversity of this submarket have improved with the neighbourhood’s successful revitalization.
Designed by Emmanuel Combarel (ECDM architectes), Joya will feature adaptable, wellconnected open spaces comprising of 6,000 m² (64,600 ft2 ) over seven floors, each easily divided in quarters for optimal fit-out flexibility.
With its spacious amenities (catering, wellness area, auditorium, meeting rooms, etc.) and its accessible gardens and patio spaces, Joya will make it an ideal workspace for large businesses.
“We are very pleased to have completed this off-market acquisition, which is perfectly in line with our long-term vision for Greater Paris,” said Karim Habra, Head of Europe and Asia-Pacific, Ivanhoé Cambridge. “As the Covid‑19 crisis is impacting work and business practices, Joya is very well aligned with the future needs of office spaces in terms of occupancy costs, services, flexibility and access to technology.”
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“EUROPEQUIPEMENTS and Groupe QUARTUS are proud that Ivanhoé Cambridge has made this acquisition and placed its trust in our teams’ know-how to see this major project through to completion,” the two partner developers said. “Joya is a great example of the longstanding positive forecasts about the depth of the market in eastern Paris and Val de Fontenay, which will continue to attract large businesses looking to take advantage of this hub renowned for the quality of its road service and public transports.”
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Ivanhoé Cambridge was advised in this transaction by Lasaygues (François Gauthier and Isabelle Vidal-Subias), Allen & Overy (Antoine Chatry), Lacourte Raquin Tatar (David Sorel), and ARC Project Management (Rémy Angelo).
EUROPEQUIPEMENTS and Groupe QUARTUS were advised by the firm Prud’homme & Baum (Nicolas Baum, Naëlle Naar and Armance Goudon) and by Colliers (Xavier Mahieu and Nelson Bagagem).
About Ivanhoé Cambridge
Ivanhoé Cambridge develops and invests in high-quality real estate properties, projects and companies that are shaping the urban fabric in dynamic cities around the world. It does so responsibly, with a view to generate long-term performance. Ivanhoé Cambridge is committed to creating living spaces that foster the well-being of people and communities, while reducing its environmental footprint.
Ivanhoé Cambridge invests internationally alongside strategic partners and major real estate funds that are leaders in their markets. Through subsidiaries and partnerships, the Company holds interests in more than 1,000 buildings, primarily in the industrial and logistics, office, residential and retail sectors. Ivanhoé Cambridge held C$64 billion in real estate assets as at December 31, 2019 and is a real estate subsidiary of the Caisse de dépôt et placement du Québec (cdpq.com), one of Canada’s leading institutional fund managers.
About EUROPEQUIPEMENTS
Groupe EUROPEQUIPEMENTS develops and builds new multipurpose office, commercial, hotel and residential property programs, with a specific focus on restructuring of urban landscapes in city centres as well as redevelopment of brownfield sites and gateways to cities.
In designing each of its programs, EUROPEQUIPEMENTS, pays close attention to its economic and financial as well as its social and environmental aspects, working closely with local stakeholders to ensure integrated operations on each site.
EUROPEQUIPEMENTS retains full or partial investment (in premises and business assets) in some of its programs, as a guarantee of quality and sustainability.
About Groupe QUARTUS
QUARTUS is the leading independent urban turnkey developer in France specialized in new uses. Founded in 2014, it encompasses all of the primary real estate business lines. With single-window expertise facilities covering six of the country’s major territories, QUARTUS co-designs and builds, integratively, neighbourhoods adapted to France’s evolving lifestyles as part of a new vision of urban living aimed at ensuring people’s fulfilment. It employs a staff of some 300 people.
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