AXA IM Alts disposes office development in Paris

AXA IM Alts disposes office development in Paris

AXA IM Alts has completed the sale of the 26,000 sqm Keiko tower office development in Paris to Macifimo.

This disposal culminates AXA IM Alts’ regeneration of the 40 acre Issy-les-Moulineaux site and follows the development and subsequent sale of 3 residential towers in 2018, as well as Aquarel tower, a 33,000 sqm office building in 2019.

Spread across 14 storeys, the office has been inspired by ancestral Japanese notions of harmony, incorporating asymmetric glass plates across two wings to create an image reminiscent of the armour worn by the samurai.

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The site is located in Issy-les-Moulineaux, south-west of Paris, in the third largest metropolitan district in the city. The area comprises a range of residential and social housing, retail, offices and a plethora of green spaces along the banks of the Seine. Overlooking the river, Keiko tower will offer easy access via a range of public transportation networks and sits adjacent to the Issy-Val de Seine train station. With trains to La Défense and Gare Montparnasse in just 20 minutes by train, the building is also accessible via the metro, bus and RER networks.

The project is expected to cemplete in 2023.

“Following the successful completion and sale of our other two other developments in Issy-les-Moulineaux, we invested in Keiko tower in recognition that the role of the office has changed, with the workforce of the future now increasingly looking for spaces that prioritise well-being and collaboration, a trend that was emerging even before the pandemic but which has been further accelerated by shifts in working as a result of Covid-19. This disposal demonstrates the sustained appetite by occupiers for sustainable, well-designed offices in prime locations, and allows us to leverage our market-leading development expertise to crystallise the value generated for clients,” said Germain Aunidas, Global Head of Development at AXA IM Alts.