AXA Investment Managers - Real Assets concludes marketing of its flagship QU4DRANS development in Paris, securing buyer for entire office campus

21/12/2016

Disposal completed of South building, while sale agreed for North and West buildings

AXA Investment Managers - Real Assets (“AXA IM - Real Assets”), a global leader in real assets investment and the leading(1) real estate portfolio and asset manager in Europe, announces that it has completed the disposal of the South building of its QU4DRANS office development in Paris, and agreed the sale of the North and West buildings in the scheme, which remain under construction. These latest transactions follow the sale of QU4DRANS’ East building, in May 2016, meaning the large-scale development project has now been committed for sale in its entirety, over a year before its completion. AXA IM - Real Assets acquired the site in May 2011 on behalf of Development Venture III(2) (“DV III” or “the Fund”), the third generation of its pan-European development vehicles.

Built out in two phases, the state-of-the-art QU4DRANS scheme comprises a campus of four separate office buildings – North, South, East and West – totalling 86,000 sqm, a size scarcely seen in central Paris. The first phase of QU4DRANS, which includes the 25,800 sqm East and 20,200 sqm South buildings, was finished at the end of 2015. Phase two of the project was then launched, which will provide an additional 40,000 sqm of office space across the North and West buildings once construction completes in early 2018.

With over 16 years’ experience in sourcing and managing projects at all stages of the development process, AXA IM - Real Assets has firmly established itself as one of Europe’s most active developers, having completed over 250 projects representing a total value of €13.2 billion(3) since 2000. The QU4DRANS’ project was one of the major investments made by DV III, with other developments completed by the Fund, including the award-winning Sixty London in London and the headquarter offices of major international companies in Bois-Colombes, North-West of Paris.

Pierre Vaquier, CEO of AXA IM - Real Assets, commented: “It is testament to the pre-eminence of this distinctive project and the expertise of the development and asset management teams behind it that we have succeeded in attracting the interest of new owners for QU4DRANS in advance of completion. This is a highly satisfying result for us to report to our investor clients who enabled us to deliver this exceptional project.”

“Building on from the success of DV III and the previous generations, we have recently closed a fourth development fund, Development Venture IV(2), with over €600 million of capital available for investment across Europe, and attractive opportunities already sourced in the UK and France.”

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1) Source: IP Real Estate Top 100 Investment Management Survey – Nov/Dec 2016
2) DV III and DV IV are both managed by AXA REIM SGP, a company of AXA IM - Real Assets
3) AXA IM - Real Assets’ unaudited data as end of March 2016

Press Contacts

AXA Investment Managers - Real Assets
Charline Coué, Media Relations Manager
Jocelyne Tamssom, Head of Communications
Tel +33 1 44 45 97 95
PressOfficeAXAIMRealAssets@axa-im.com

FTI Consulting Inc.
Richard Sunderland, Richard Gotla, Ellie Sweeney
Tél. : +44 20 3727 1000
AXAIMRealAssets@fticonsulting.com