Ivanhoé Cambridge, the real estate subsidiary of the Caisse de dépôt et placement du Québec, has acquired an office building in Nanterre, France.
The building, called HUB 247, is currently under construction with an expected completion date in early 2020. The project is located in Nanterre’s Cœur Université district and is being developed by Bouygues Immobilier. It will contain 9,000 square-metres of space.
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“We are delighted with this new transaction, which perfectly illustrates our ability to invest in high value-creation projects,” said Karim Habra, head of Europe at Ivanhoé Cambridge, in a press release. “This transaction is aligned with our overall strategy in France and in Europe, which consists of developing a diversified portfolio of core and high-quality assets. The project’s premier geographic location in the heart of a mixed-use neighbourhood, its architectural design and its environmental attributes ideally fit our investment criteria.”
According to Bouygues Immobilier, the building is part of a new renewable energy neighbourhood and will produce more energy than it consumes.