Major real estate partnership agreement inked in Europe

It has come to the knowledge that Aeroports de Paris and GE Capital Real Estate France (via its subsidiary Fonciere Ariane SAS) have signed a partnership agreement for the Continental Square office complex, located at the Paris-Charles de Gaulle airport. The surface area of the office complex is 50,000 m and consists of eight homogenous office buildings.

What are the primary objectives of partnership? Well, there are several. These include transferring of the Continental Square real-estate complex from GE Capital Real Estate France to a company that will be 60%-owned by Aeroports de Paris and 40% by Fonciere Ariane SAS; precise management of the Continental Square office complex; handling of feasibility studies on the possible development of another office complex depending on market trends.

It is to be noted that the completion of operations planned as part of this partnership are subject to first obtaining all applicable legal and regulatory authorizations. In this context, while GE Capital Real Estate France is advised by Etude Lasaygues and the Ashurst law firm, the same service is rendered by Etude Thibierge, the Darrois Villey law firm and Jones Lang Lasalle (acquisition audits) in case of Aeroports de Paris.

The main job of Aeroports de Paris is building, development and management of airports including Paris-Charles de Gaulle, Paris-Orly and Paris-Le Bourget. It is, basically, Europe’s second-largest airport group in terms of airport revenue and the European leader for freight and mail. Apart from this the group, at present, does provide almost 460 airlines accommodation, including the main companies in the air transport industry.

Aeroports de Paris has an outstanding geographic location and a major catchment area and is, for the moment, pursuing its strategy of adapting and modernizing its terminal facilities and upgrading quality of services, and also intends to develop its retail and real estate business.