La Française Real Estate Managers (REM), a real estate asset management company with almost €32 billion in assets under management (30/06/2023) acting on behalf of a closed-ended real estate investment vehicle, has acquired off-plan a 1,935 m2 higher education facility, located on boulevard Godard in Bordeaux, the 9th biggest city in France.
The building, classified as an ERP (publicly accessible building), is part of a programme developed by Eiffage Immobilier Sud-Ouest and Jops Conseils comprising 9,000 m2 spread over five buildings, and will be delivered at the end of the first half of 2024. The project is located in the Chartrons district, an attractive area for the quality and number of its green spaces, cultural venues, schools and universities. The asset will be easily accessible by public transport, notably by tramway line C and several bus routes. It is leased in its entirety to a public higher education institution under a future state of completion lease.
The ground floor will feature an auditorium, while the upper levels will offer classrooms and conference rooms. It will also have a parking space for people with reduced mobility and two charging points for electric cars.
In terms of energy and environmental performance, the building, with its timber-framed facades, is aiming for NF HQE Bâtiments Tertiaires Neuf Très Bon certification, the E+C- level E2C2 label and savings of 35% compared with RT2012 requirements, thanks in particular to its use of the district heating network.
Leslie Villatte, Director of Institutional Real Estate Investments and Development – France of La Française Real Estate Managers – Institutional Division, concluded: "The asset's location in the heart of Bordeaux, its energy efficiency targets and the tenant's long-standing ties with Bordeaux all point to a favourable valuation outlook for an asset that perfectly complements the existing portfolio."
For this transaction, La Française REM was advised by the notary firm Allez & Associés (Maria-Hélène Kremer) and by Emenda as project manager.
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