(Boursier.com) — Principal Global Investors, via its real estate investment team Principal Real Estate, and Atream, an independent management company specializing in the management of real estate and private equity funds, announce that they have completed the acquisition from HIG Capital of the Lyon tertiary asset Urban Garden for more than 150 ME as part of an institutional club deal which is part of an SRI Immobilier labeling process. Located in Gerland (Lyon, 7th arrondissement), this new and flexible building benefits from several environmental certifications and offers a quality working environment.
This new acquisition illustrates the expertise of Atream and Principal in commercial real estate in the regions and their commitment to sustainable development.
Atream, alongside Principal Real Estate Europe, on behalf of its Principal European Office Fund, made this acquisition via an institutional club deal made up of CEPRAL Participations, Caisse d’Epargne Rhône Alpes real estate, Caisse d’Epargne Normandy, Caisse d’Epargne Loire Drôme Ardèche, Caisse d’Epargne Loire Centre, Groupama Rhône Alpes Auvergne, CARAC, savings, retirement and provident mutual fund, SCI CARAC Perspectives Immo and SCI Atream Euro Hospitality. This operation thus confirms Atream’s know-how in the constitution of dedicated solutions on behalf of leading institutional investors.
Located in Gerland, in one of Lyon’s main business districts, perfectly connected to public transport, the Urban Garden asset is an office property complex comprising 5 buildings, covering an area of 29,927 m(2). Delivered in May 2021 and 100% leased to leading tenants, Urban Garden has everything of a modern asset: it meets the new demands of professional life, thanks to a range of hybrid services (concierge service, coworking space, wellness area, gym, etc.).
While the building already benefits from a wide range of certifications covering environmental, technological and social aspects: BREEAM excellent, RT-2012 – 35%, Biodivercity Performant, R2S level 1 and OSMOZ, a labeling process Real estate SRI is underway with the ambition of implementing a Best In Class strategy.
“We are delighted with the partnership with Principal Real Estate Europe in the context of the acquisition of the Urban Garden property complex in Lyon, a modern and contemporary asset that will meet the highest standards in terms of services and well-being of its tenants. The current SRI labeling process meets the ambition that Atream has in all its projects in terms of responsible investment. We are proud to be able to support the development of such assets at the heart of the real economy of major regional cities. ” says Pascal Savary, President of Atream.