Fairway advised Primonial REIM, owner of Carré Pleyel 2 property, on the legal aspects of the joint venture agreement entered into with AG Real Estate, owner of Carré Pleyel 1 property, to unify these two assets.
The 10-year joint venture will enable, on one hand, all users to benefit from a common base of services, a redevelopment of the common areas and the potential development of joint office areas (5000sq.m) and, on the other hand, to generate synergies between these two real estate assets for the purpose of commercializing vacant areas.
Located near the future Grand Paris station named “Saint-Denis Pleyel”, Carré Pleyel 1 and Carré Pleyel 2 is an office building which develops a surface area of nearly 33 000 sq.m and has 553 underground parking spaces.
Leased to eight tenants, this housing complex offers a range of services with international standards such as an inter-enterprise restaurant, a 150-seat auditorium, shared meeting rooms, a fitness club, accessible terraces and a large inner courtyard.
In the press release, Grégory Frapet, Chairman of the Executive Board of Primonial REIM, states that “this partnership with AG Real Estate illustrates our investment strategy in top range properties located in changing sectors. The housing complex Carré Pleyel presents, in our opinion, a potential rent growth, notably thanks to the arrival of the future Grand Paris station at the foot of the building “.