Address:  26 rue Ordener 75018 Paris

Acquisition date:  17/12/2021

Asset class/Risk profile: Office / Value Add

The office building is located in Paris 18 ^th arrondissement, an urban district in development. It was built in 1952 and offers a total lettable area of 3,200 sqm spread over 3 levels and 2 basement levels. It was purchased 100% empty from SNCF. The strategy is to deploy a major CapEx plan to renovate the building and bring the spaces up to market standards and environmental labels. The renovation will maximize the re-use of existing materials, while introducing nature with an outdoor garden and adapting the planted species to the characteristics of the site. Externally, the building will retain its original character with a restored façade, while the planned program of internal works will include improved wall insulation, energy efficient HVAC (Heating, ventilation, and air conditioning). Delivery date is expected around summer 2023.