Share price

€ 59.50
( -1.65 %)
05/27/2022-17:21

Share price

€ 59.50
( -1.65 %)
05/27/2022-17:21

PAREF - All the office space in the Franklin tower is rented out!

PAREF Group’s asset management team announces the lease of the entire office space held by the PAREF REIT, located in the Franklin Tower

PAREF Group, which holds through its REIT 20% of the Franklin Tower, i.e. a surface of 12,250 sqm, has announced the lease of the entire office space.

Located at the heart of La Défense, in the Greater Paris area, next to the Westfield 4 Temps mall and the CNIT, the Franklin tower attracts tenants with its premium location, excellent visibility and immediate access to transportation. As of today, the floors owned by PAREF in the Franklin tower host 5 tenants in total, including Ellisphere, a leader company on corporate data, whose lease will start in January 2022 and Hollister, a company specialized in healthcare quality products, which has just renewed its lease.

The strategy developed by the REIT, which aims to gradually increase the value of real estate assets directly held by PAREF while proactively managing large size assets, is more relevant than ever thanks to the work accomplished by the asset management teams.

«We are delighted by these signatures with top-rated tenants which, beyond the increase in rental income bring the office spaces’ occupancy rate to 100%. In addition, they confirm the relevance of our strategy, which is reinforced on a daily basis by the efforts made by all the teams at PAREF Group.»

Antoine Castro, CEO PAREF Group

The PAREF Group was supported in these operations by BNP Paribas Real Estate and CBRE.