BNP Paribas Real Estate has announced the sale of part of the Visalto office project in the 19th arrondissement of Paris to the French state.
BNP Paribas Real Estate has announced the sale of part of the Visalto office project in the 19th arrondissement of Paris to the French state.
Although financial details were not disclosed, BNP Paribas said the deal - involving 15,000 m2 of space -was financed with a loan provided by HSBC Real Estate Leasing.
Designed by architects Ateliers 234, Visalto will consist of two High-Quality Environmental buildings with 15,000 m2 and 6,000 m2 respectively. The complex is part of a larger mixed-use development carried out by BNP Paribas Real Estate which will also include a student housing facility providing a combined space of 33,000 m2.
Delivery of the building is scheduled for February 2016.
'This transaction is emblematic of the real estate strategy of the French State aimed at occupying publicly-owned buildings with good energetic performances, allowing the government to reduce running costs. It is also the first forward deal ever agreed by the State, signalling the government's capacity to adopt innovative solutions,' commented Nathalie Morin of the Rectorat de Paris et France Domaine, part of the finance ministry.
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