Fairway advised La Française Real Estate Managers (REM) and EDF on the transactional, financing and tax aspects of the acquisition of the Memphis building. Located at 111 avenue de France, in the 13th arrondissement of Paris, this asset was sold by Norges Bank Investment Management (NBIM) and AXA IM Alts.
Completely renovated in 2021, this 14,415 m² building includes 10,059 m² of office space and 4,239 m² of retail space, and offers numerous outdoor green spaces and services (terraces, rooftop, café, restaurant, etc.). It is certified Breeam Excellent and has been awarded the WiredScore Gold label. This 8-storey asset is fully leased to eight tenants operating in a variety of sectors, including biotechnology research and development, cosmetics, the food industry, digital transformation consulting and sports equipment.
Management of this mixed-use building has been entrusted to La Française REM’s institutional division.
“It is with great satisfaction that we conclude this investment involving our SCPIs and EDF Invest, a partner we would like to thank for its confidence”, says Philippe Depoux, Chairman of La Française REM. “The Memphis has all the fundamentals expected by La Française REM. Its centrality and the quality of its renovations and services are all factors that will support the attractiveness and value of the asset.”
“Assia Oudni, Investment Director – Real Estate, EDF Invest, adds: “This acquisition is in line with our belief in the need for quality, flexible office space to benefit users and the economic fabric of this area, which has solid long-term fundamentals. “EDF Invest is delighted with this partnership with La Française REM.