LA DEFENSE BUSINESS DISTRICT: PAREF COMPLETES A MAJOR LEASING TRANSACTION

12 Dec 2024 17:55 CET

PAREF, the owner of 6 floors in the upper part of the Franklin Tower, located at the La Défense Esplanade, announces the signing of a lease renewal with a significant expansion.

PAREF renews and expands a strategic lease in La Défense

The subsidiary of a major French banking group has chosen to strengthen and consolidate its presence in the Franklin Tower, at the heart of the La Défense business district.
As part of a significant agreement with PAREF, this renowned tenant has expanded its workspace to over 4,000 sqm by renting an additional 2,000 sqm on the 20^th floor of the tower.
The new space, currently undergoing complete renovation, is scheduled for delivery in December, allowing the tenant to take possession without delay and begin its own fit out work.

A testimony to PAREF's expertise

The lease, with a 6-year firm term, will be effective at the beginning of 2025. Thanks to the partnership-oriented approach, as well as the commitment and flexibility of its teams, PAREF Group has quickly and efficiently repositioned the available spaces in a demanding and competitive market, once again demonstrating the expertise of its asset management teams.

“We are delighted with this lease renewal and expansion, which reflects our tenant's continued confidence in the quality of our spaces and our ability to meet the highest expectations. Their decision to double their space in the Franklin Tower also demonstrates our capacity to deliver real estate solutions perfectly tailored to the demands of a competitive market like La Défense.” 

Antoine Castro - President and CEO of PAREF

The parties involved in this transaction were advised by JLL.

About PAREF Group

PAREF is a leading European player in real estate management, active for more than 30 years with the aim of becoming one of the leaders in real estate management by relying on recognized know-how.

Today, the Group operates in France, Germany, Italy and Switzerland and is involved in the entire value chain of real estate investment businesses: investment, fund management, management of renovation and development projects, asset management, rental management. This 360° coverage allows it to offer integrated and tailor-made services to institutional and individual investors.

The Group is committed, its ambition is to contribute to creating more value and sustainable growth and has placed CSR issues at the heart of its strategy.

As of June 30, 2024, the PAREF Group manages more than €3 billion in assets.

PAREF is a real estate company SIIC, listed on compartment C of Euronext Paris - FR0010263202 - PAR.

More information on www.paref.com

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