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  PAREF company press release from 16/03/2022

  16/03/2022 - 16:30

'The Go' building, located in Levallois Perret, is 100% leased six months ahead of delivery


Acquired in 2014 by PAREF Group, "The Go" asset is now 100% leased, to a leading European multinational, six months before the end of the restructuring project scheduled for September 2022. The tenant has signed a long-term lease for 9 years to establish its French headquarters.

Upon completion, the building will develop 6,000m² of office space with gardens and a roof top. The asset will also meet the highest market standards from an environmental point of view and will be certified HQE and BREEAM. The restructuring work, supervised by PAREF Investment Management, the asset management subsidiary of the PAREF, was launched in 2019 after the building permit was obtained.

Located in Levallois-Perret, "The Go" building benefits from an excellent location and multiple connections to public transport. The building is only 100 meters from the Clichy-Levallois train station, 500 meters away from the T3b Porte d'Asnières - Marguerite Long tramway station and in close proximity to the ring road.

« I would like to commend the work of PAREF Investment Management's teams, who successfully completed the restructuring of "The Go" office building despite the obstacles encountered due to the health crisis and found a quality tenant before the work was completed. We are confident that our tenant's employees will enjoy excellent working conditions in a completely renovated building in a great location.

Anne Gillet-Feillon, PAREF Group Real Estate Director

« This new long-term lease demonstrates our ability to meet the expectations of the most demanding tenants with assets in line with the best environmental standards on the market. This is the case for "The Go", which will benefit from HQE and BREEAM labels upon delivery and is in accordance with our Group's ESG strategy.»

Antoine Castro, CEO PAREF Group

In this transaction, PAREF Group's teams were advised by the law firm AUGUSTE DEBOUZY on the legal aspects and were accompanied by BNP PARIBAS REAL ESTATE as part of an exclusive marketing mandate.

 

Financial agenda
April 28, 2022 : Financial Information as of March 31st, 2022
May 19, 2022 : Annual General Meeting of shareholder

 

About PAREF Group
PAREF operates in two major complementary areas: (i) investments owned by SIIC PAREF primarily in commercial real estate in the Paris region (€0.2 bn asset as of December 31, 2021) and (ii) Management on behalf of third parties via PAREF Gestion (€1.8 bn funds under management as of December 31, 2021), an AMF-certified management company, and via PAREF Investment Management (€0.7 bn as of December 31, 2021).

PAREF is a company listed on Euronext Paris, Compartment C, under ISIN FR00110263202 – Ticker PAR.
More information on www.paref.com

Press contact
PAREF Group

Raphaëlle Chevignard
01 40 29 86 86
raphaelle.chevignard@paref.com

Citigate Dewe Rogerson
Tom Ruvira
07 60 90 89 18
Paref@citigatedewerogerson.com


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  Original Source: PAREF