Eurazeo Patrimoine has signed an agreement with the Kaufman & Broad Group for the acquisition of 24,000 m² office complex located on the banks of the river Seine in Courbevoie. The total capital investment amounts to c. €70m, including a minority interest in partnership with the Decaux family’s investment holding company.
Highlight is a real estate campus comprising three office blocks, restaurants and facilities (conference and fitness centres), built around an 850 m² landscape garden. The complex is scheduled for delivery in the second quarter of 2021 and will house Kaufman & Broad’s future 9,200 m² headquarters. The remaining office space has yet to be commercialized.
Renaud Haberkorn, Managing Partner and Head of Eurazeo Patrimoine, stated: “The acquisition of Highlight fits perfectly into our acquisition strategy focusing on added-value real estate assets. Drawing on the expertise of Kaufman & Broad, this promises to be an ambitious and innovative project. It will provide Eurazeo Patrimoine with a real estate asset that has genuine value creation potential, thanks to its attractive yield on the acquisition and potential market rent increases prior to delivery."
