BNP Paribas Real Estate sells office complex Ecowest for €477 mln in Levallois-Perret (FR)

BNP Paribas Real Estate has sold its off-plan office complex Ecowest located 80/82 Quai Michelet in Levallois-Perret, for €477 mln, to White River C Levallois SCI, an entity that is ultimately wholly owned by the Abu Dhabi Investment Authority.
The development teams of BNP Paribas Real Estate have started the development of this office building which is planned to be certified HQE “Exceptional” and BREEAM International “Excellent”.
The building will be delivered on Q2 2017 and will offer 58,000 m² of office accommodation. The main tenant will be L’Oréal who has signed a lease for 39,000 m².
“This first major transaction of the year 2015 is the sign of the dynamism and the attractiveness of the Parisian market. The teams of BNP Paribas Real Estate are particularly proud to have, during the past months, partly rented, begun construction work and sold Ecowest. It is a new example of the relevance of our balanced business model”, said Thierry Laroue-Pont, Chief Executive Officer of BNP Paribas Real Estate.
BNP Paribas Real Estate was advised by its French transaction teams, Thibierge & associés Notaries and Cabinet Lacourte Raquin Tatar.
Source: BNP Paribas Real Estate