EQT Real Estate acquires office refurbishment project on Rue Lauriston, Paris

  • EQT’s first real estate acquisition – a 5,700 square metre office investment, located on Rue Lauriston in Paris, for a purchase price of EUR 33 million 
     
  • Investment made through a joint venture with STAM Europe
     
  • Refurbishment strategy seeks to transform asset into a contemporary central business district office building, benefitting from modern occupier facilities

EQT is pleased to announce its first real estate acquisition, located on Rue Lauriston in Paris’ central business district. The acquisition, an office refurbishment project, is made in joint venture with local partner STAM Europe. The seller is a private investor.

The Rue Lauriston investment represents a rare opportunity to create high-quality office space in the central business district of Paris, where supply is limited and expected future demand is solid.

The acquisition comprises two adjacent buildings, a parking garage and a private mansion. The asset is located in the 16th Arrondissement of Paris, close to the Arc de Triomphe, with excellent access to public transportation. It benefits from a building permit for a conversion to a 5,700 square metre office property. EQT will work closely with STAM Europe to create prime contemporary offices, with commensurate occupier facilities and underground parking.

Robert Rackind and Edouard Fernandez, Partners and Real Estate co-heads at Investment Advisor EQT Partners, commented: “EQT Real Estate locates opportunities in European gateway cities benefiting from tight supply and solid occupier demand. With the investment in Paris CBD, EQT looks forward to creating value through optimizing the current site and developing a benchmark office property, offering quality, modern space to office tenants.”

“This will be a great partnership for STAM Europe on Rue Lauriston, as EQT is a firm representing growth and development. Both our groups have substantial experience in high profile value-add projects of this nature. With our local foot print and the EQT real estate team’s pan-European focus, we will be able to transform this asset into a landmark office building” commented Edward Bates, Managing Director at STAM Europe.

Law firm Ashurst and notary Thierry Vachon have acted as advisors to EQT and STAM Europe. Financing was provided by Aareal Bank.

Contacts:

Robert Rackind, Partner at Investment Advisor EQT Partners +44 207 430 5555
Edouard Fernandez, Partner at Investment Advisor EQT Partners +44 208 432 5411
EQT Press Office +46 8 506 553 34

About EQT

EQT is a leading global private equity group headquartered in Stockholm, with approximately EUR 30billion in raised capital. EQT has portfolio companies in Europe, Asia and the US with total sales of more than EUR 15 billion and approximately 100,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.

Investment Advisor EQT Partners formed a real estate initiative in 2015, to identify investment opportunities in the real estate sector. The Real Estate team consists of 11 investment advisory professionals with vast experience in the European real estate sector.

For further information, please visit www.eqtpartners.com

About STAM Europe

STAM Europe is an independent investment and asset management company, created in 1997. The firm operates with a fully integrated team of 20 experienced professionals with financial, legal, real estate and technical backgrounds. Since inception STAM has invested over EUR 3.3 billion in the main real estate asset classes covering the full range of risk-return investment profiles. STAM Europe manages discretionary, closed-end value added real estate investments funds, as well as separate accounts on behalf of international investor partners. STAM France Investment Managers, a fully-owned affiliate of STAM, is an investment management company regulated under the French financial authority (AMF).

For further information, please visit www.stam-europe.com

About Us

EQT is a leading investment firm with approximately EUR 49 billion in raised capital across 26 funds. EQT funds have portfolio companies in Europe, Asia and the US with total sales of more than EUR 19 billion and approximately 110,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.