French private equity firm Eurazeo Patrimoine has agreed to acquire the 24,000 m2 Highlight office development project located on the banks of the river Seine in Courbevoie, near Paris, from developer Kaufman & Broad.
The total capital investment represents around €70 mln, including a minority interest taken by the Decaux family’s investment holding company.
Highlight is a real estate campus comprising three office blocks, restaurants and facilities (conference and fitness centers), built around an 850 m2 landscape garden.
The complex is scheduled for delivery in the second quarter of 2021 and will house Kaufman & Broad’s future headquarters of around 9,200 m2. The remaining office space (60%) has yet to be leased.
Eurazeo Patrimoine, as asset manager, will oversee the marketing of the remaining space.
'In a context favorable to Parisian office real estate, the acquisition of Highlight fits perfectly into our acquisition strategy focusing on added-value real estate assets,' said Renaud Haberkorn, managing partner and head of Eurazeo Patrimoine.