A joint venture between Tishman Speyer and Public Sector Pension Investment Board (PSP Investments) has acquired Espace Lumière, occupied by Canal+, in Boulogne Billancourt, Paris from a fund managed by Invesco Real Estate.
The purchase price was not disclosed. This iconic 28,000 m² building is the work of Christian de Portzamparc, leading French architect and urban planner.
”We are delighted with this acquisition in such a special context. With the planned departure of Canal + in 2022, we will be keen to reposition this magnificent building at the entrance to the city of Paris,” said Philippe Joland, Senior Managing Director and President of Tishman Speyer France.
”Our ambition is to make this a genuine positive destination property for its future occupiers by 2024,” he added.
The JV was advised by Etude Allez, Paul Hastings and Lacourte Raquin Tatar. Financing advisory was provided by Eastdil Secured and technical consultancy by Arcadis.
Invesco was advised by Wargny Katz, Linklaters, PWC, Strategies & Corp and JLL. Financing was provided by Aareal who was advised by Etude Allez and Archers.