August Debouzy has assisted PAREF, a leading property management group, with a tripartite transaction regarding the Franklin Tower located in the La Défense business district in Puteaux, near Paris.
As part of this transaction, the asset management teams have assisted one of their tenants in partially vacating the premises and have entered into a lease agreement with a major subsidiary of a French banking group. This transaction allows the PAREF Group to increase the residual period of asset commitments, while maintaining a market rent, without impacting the financial occupancy rate.
This transaction is part of the PAREF Group's ambition to continue the transformation of its real estate assets in the Paris region and to refocus on strategic and growth activities.
August Debouzy advised the PAREF Group, with a team composed of Guillaume Aubatier, partner, Julien Wlodarczyk, counsel, and Malvina Dahan, associate.