In a partnership with ANF Immobilier, Foncière des Régions acquired Quai Ilot 8.2, a43,000-square-meter mixed-used project in Bordeaux, France.
The project comprises 29,500 square meters of office space,3,000 square meters of retail space, two hotels totaling 237 rooms and a125-unit student residence.
ANF Immobilier and Foncière des Régions will retainrespective 65% and 35% investments in the office and retail units, which theyacquired in an off-plan transaction following an agreement in August. The unitsare 30% prelet to Orange and Allianz Vie through nine-year firm leases.
One of the hotels, which contains 126 rooms, was purchasedby ANF Immobilier Hotels, a partnership between ANF Immobilier, Eurazeo andCaisse d'Epargne Provence-Alpes Corse. The other hotel having 111 rooms will beoperated by the Golden Tulip brand.
The student residence will be managed by Student Factory, asubsidiary of VINCI Immobilier.
Caisse d'Epargne Provence-Alpes-Corse, Crédit Foncier deFrance and Caisse d'Epargne Aquitaine Poitou-Charentes provided financing forthe acquisition of the offices, retail units and the 126-room hotel.
The project is located close to an upcoming high-speedrailway station. ANF Immobilier and VINCI Immobilier acquired the land fromBordeaux Euratlantique. Construction started in early September and completionis expected in 2018.
The project is aiming to secure both HQE Excellent and BREEAMVery Good certification.