November 9, 2023HENDERSON PARK AND WEINBERG CAPITAL PARTNERS ACQUIRE 49 AVENUE GEORGES POMPIDOU IN LEVALLOIS-PERRET, ÎLE-DE-FRANCE
Weinberg Capital Partners and Henderson Park announce the acquisition, in a joint venture, of an 18,500 square metre office building in Levallois-Perret (Île-de-France - France), which presents a strong opportunity for value creation.
The building is located c. 5km from central Paris at 49 Avenue Georges Pompidou, a strategic location just three minutes from the Metro, in the area of Levallois-Perret which is most sought-after by large occupiers seeking headquarters buildings close to the city but at much more competitive rents.
Designed as a headquarters building, "49 Pompidou" features 2,000 square metre floor plates, terraces on each level, panoramic views of the Seine and a triple-height lobby offering occupiers views towards a large interior garden, one of the few in the area. The building is currently partially occupied by the seller.
Henderson Park and Weinberg Capital Partners intend to undertake a renovation project to improve the building’s environmental credentials, enhance outdoor spaces and implement numerous services aimed at improving the quality of work life.
This acquisition strengthens the joint venture's portfolio following the completion of its L'Arche de La Défense project.
Jean-Philippe Olgiati, Partner at Weinberg Capital Partners, declares: "We are convinced of the attractiveness of labeled buildings, of medium size, with competitive rents for large users seeking quality of work life. Especially in the peripheral markets of the Paris Central Business District. We will be very creative in terms of services for this building to meet the users' needs."
Christophe Kuhbier, Managing Director at Henderson Park, adds: “In a difficult market context, this acquisition is the result of a disciplined process of underwriting an office building with solid fundamentals and great value-creation potential as well as the opportunity to continue our joint venture with WCP and our financing partners CACIB.”