Le Mermoz

Location
Le Bourget (Paris)
France

Sector
Office

Size
19,800 sqm

Under Management
2015 - 2017

Providing the right offer and incentives to achieve full occupancy

Our team sourced the acquisition of Le Mermoz - a complex comprising of two top-quality, interlinked office buildings built in 2009, with a BREEAM rating, for an institutional investor. 

This property was part of a portfolio of eight Class A/B office buildings acquired off-market from a closed-end real estate fund in a complex multijurisdictional transaction.

Le Mermoz is located in the Le Bourget district, in close proximity to the RER B Line, providing easy access to Paris and Charles de Gaulle airport. Moreover, the area is expected to become a crucial hub in the "Grand Paris" project with the construction of a new regional express train station that will connect La Defense and Eastern Paris.

To drive further occupancy, our business plan for Le Mermoz involved obtaining permits and constructing additional parking. The team executed this plan effectively, resulting in a leasing of 2,600 sqm of office space and an increase in occupancy from 86% to 99%. Consequently, gross rent grew by 35%.

Our team utilized their knowledge of the market and existing relationships to secure the deal off-market and their pan-European expertise to manage the complexities of the deal structure. They successfully oversaw the property's lease-up, identified the requirement for additional parking, and worked with local authorities to obtain the necessary construction permits and then supervised the construction process until its completion.