Tishman Speyer acquires the Carré Saint-Germain in the heart of Paris
PARIS, Dec. 18, 2020 /PRNewswire/ -- Tishman Speyer announced today that it has acquired the Carré Saint-Germain in central Paris, France, with its partner the Public Sector Pension Investment Board (PSP Investments). The Carré Saint-Germain was acquired from AXA IM – Real Assets acting on behalf of clients.
The iconic 13,800 sqm mixed-used property is located in the heart of Paris, on the prestigious Boulevard Saint-Germain. It is part of the historical Saint-Germain des Prés district and surrounded by the Seine river banks to the North and the Jardin du Luxembourg to the South.
The area is one of the most sought-after neighbourhoods in the French capital, renowned for being the centre of the artistic and intellectual life of Paris throughout the 19th and first half of the 20th century. Today, Saint-Germain des Prés continues to offer a lively Parisian environment, with numerous restaurants, cafés, shops, hotels, and prestigious public institutions.
Philippe Joland, Senior Managing Director and President of Tishman Speyer France: "We're very proud of this new acquisition which is our third since the onset of the global pandemic. With this magnificent property we have a unique opportunity to reinvent office space in a way that responds to the new ways of working – while being in the heart of the 'left bank', where such opportunities are very rare."
Tishman Speyer and PSP Investments were advised by Étude Wargny Katz and cabinet De Pardieu Brocas Maffei. Financing advisory was provided by Eastdil Secured and technical consultancy by Arcadis.
AXA IM was advised by Étude Cheuvreux, Knight Frank and Cushman Wakefield. Financing was arranged by Natixis, advised by Étude Allez and cabinet Gide.
Notes to Editors:
About Tishman Speyer (tishmanspeyer.com)
Tishman Speyer is a leading owner, developer, operator and investment manager of first-class real estate in 27 key markets across the United States, Europe, Asia and Latin America. We develop, build and manage premier office, residential and retail spaces for industry-leading tenants, as well as state-of-the-art life science centers through our Breakthrough Properties venture. With global vision, on-the-ground expertise and a personalized approach, we are unparalleled in our ability to foster innovation, quickly adapt to global and local trends and proactively anticipate our customers' evolving needs. By focusing on health and wellness, enlightened placemaking and customer-focused initiatives such as our tenant amenities platform, ZO., and our flexible space and co-working brand, Studio, we tend not just to our physical buildings, but to the people who inhabit them on a daily basis. Since our inception in 1978, Tishman Speyer has acquired, developed, and operated 424 properties, totaling 184 million square feet, with a combined value of approximately $97 billion (U.S.). Our current portfolio includes such iconic assets as Rockefeller Center in New York City, The Springs in Shanghai, TaunusTurm in Frankfurt and the Mission Rock neighborhood currently being realized in San Francisco.
About PSP Investments
PSP Investments is one of Canada's largest pension investment managers with approximately $169.8 billion of net assets as of March 31, 2020. It manages a diversified global portfolio of investments in public financial markets, private equity, real estate, infrastructure, natural resources and private debt. Established in 1999, PSP Investments manages net contributions to the pension funds of the federal Public Service, the Canadian Forces, the Royal Canadian Mounted Police and the Reserve Force. Headquartered in Ottawa, PSP Investments has its principal business office in Montreal and offices in New York, London and Hong Kong. For more information, visit investpsp.com or follow PSP Investments on Twitter and LinkedIn.
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