HRO - Sale of River Ouest, a 64,300 sq.m office property complex located in Bezons in the Paris suburbs, on behalf of HRO under a joint-agency instruction
The site was delivered in July 2009 and is composed of four independent office buildings and a fifth building dedicated to services, housing a cafeteria, meeting rooms and leisure/relaxation areas. River Ouest was one of the first property complexes to benefit from three high performance environmental labels, including: HQE Construction, HQE Engagement-Exploitation and THPE.
Prior to selling the property, Cushman & Wakefield were also instructed on a joint-agency basis for the letting of the complex, which is now almost fully let to first-rate tenants who have set up their company headquarters here. These tenants include Atos Origin under a 12 year lease, whose international headquarters occupy 85% of the surface area. Other tenants include EMC², Sophos and Léon Grosse.
Presenting a volume of over €350M, the sale would be the highest commercial property investment of the year carried out through an agent. Cushman & Wakefield were able to mobilise investors for the acquisition by demonstrating the high quality of the property complex and it’s tenancy schedule and the future potential development of the sector, which is now served by line 2 of the tramway.
Given the size of the investment, Cushman & Wakefield were able to convince several investors of the potential of the opportunity and mobilised ING Reim via la Caisse des Dépôts, Predica (subsidiary of Crédit Agricole Insurance) and Scor to acquire the complex as a club deal.
Thanks to the successful marketing of the property and despite the difficult economic context, Cushman & Wakefield completed the transaction in the summer of 2011.