Real estate investment company TH Real Estate, acting on behalf of Chop (Cityhold Office Partnership), has acquired off-plan 28,262 sq.m. of office space in the Morland Mixité Capitale Parisian urban innovative development, located in the heart of Paris, from Société Parisienne du Nouvel Arsenal, represented by Emerige.
Winner of the 2016 call for proposals "Réinventer Paris", this development is part of the structural and architectural regeneration of the site of the former Paris Prefecture, covering an area of 43,000 sq.m. This operation will include 9,171 sq. m. (98,715 sq. ft.) of office space, 970 sq. m. (10,441 sq. ft.) of retail space, a 4,151 sq. m. (44,681 sq. ft.) youth hostel with 404 beds, a 10,597 sq. m. (114,065 sq. ft.) hotel-restaurant-bar, an 813 sq. m. (8,751 sq. ft.) nursery, a 1,749 sq. m. (18,826 sq. ft.) swimming pool and fitness area, a 521 sq. m. (5,608 sq. ft.) food market, the 290 sq. m. (3,122 sq. ft.) artistic laboratory "Paris Art-Lab", and 33 parking spaces. Completion is expected in the first half of 2021. Within Morland Mixité Capitale, AccorHotels group will operate a 161-room 5-star hotel under its 'SO' brand. The youth hostel will be operated by France Hostel, marking its first location in the heart of the French capital.
The Gide team that advised TH Real Estate on this operation comprised partner Eric Martin-Impératori with counsel Constantin Miliotis on real estate aspects, and partner Rémi Tabbagh with associate Faten Anis on financing aspects.
TH Real Estate was also advised by Arsene on tax aspects and by Linklaters on structuring aspects, as well as by notary's office Thibierge.