ICAMAP and Ivanhoé Cambridge have launched a new investment fund, ICAWOOD.
ICAWOOD investment fund will develop new-generation low-carbon offices between 200,000 to 300,000 m² by 2028 in the Greater Paris region.
It will implement building technologies developed by WO2 (a subsidiary of Woodeum Group) which significantly reduce construction carbon footprint and nuisances, while providing exceptional user comfort.
Ivanhoé Cambridge SICAV SIF, a real estate subsidiary of Caisse de dépôt et placement du Québec, is the cornerstone investor in the fund, which welcomes 12 top tier, internationally renowned institutional and family office investors.
Guillaume Poitrinal, Chairman of ICAMAP, and Philippe Zivkovic, Chairman of WO2, both of whom are personal investors in the fund, declared: “We are very honoured that Ivanhoé Cambridge and the fund investors have chosen ICAMAP and WO2 to develop low-carbon office projects in the Paris region. Ivanhoé Cambridge is a world-renowned investor. In the past 20 years, it has become a key player in office development in the Paris region. The partnership will foster the development of large low-carbon real estate complexes, which the dynamic companies in the Greater Paris region are actively seeking.”
Karim Habra, Head of Europe, Ivanhoé Cambridge, added: “We are delighted to be launching ICAWOOD with prominent partners such as Guillaume Poitrinal and Philippe Zivkovic. This fund reinforces our well-established capacity to invest in high-value-creation development projects in Europe’s large cities, and more specifically in the Greater Paris region, a strategic market for us. Woodeum has developed high-performance environmental and thermal technologies and construction processes, using cross-laminated timber (CLT); this constitutes a major advantage in building innovative office space that meets the needs of the most demanding users.”