Key Takeaways
- • Bain Capital Credit and Hemisphere jointly acquired a 13,700m² Grade A office and shared workspace project in Bagneux, south of Paris, from developer Coffim, with completion targeted for Q3 2023.
- • The project transforms a derelict building into an eight-story complex featuring gardens, 150+ parking spaces, 2,700m² of green terraces, and high staff density efficiency of 1 person per 10m², exceeding Paris averages.
- • The acquisition represents Bain Capital Credit's entry into the Paris office market, which Fabio Longo (Managing Director, Bain Capital Credit) characterized as "historically undersupplied" and "the largest office market in Europe," offering scalable investment opportunity.
- • The development incorporates Hemisphere Smart Services (H2S), flexible multi-use workspaces designed for post-pandemic tenant requirements, top-tier sustainability standards, and modern technical specifications to future-proof the asset.
Summary
Bain Capital Credit and Hemisphere announced the acquisition of a flagship commercial real estate development project in Bagneux, a Paris suburb, on May 17, 2021. The joint purchase from developer Coffim marks Bain Capital Credit's inaugural real estate investment in the Paris market and reflects confidence in the region's long-term fundamentals and structural undersupply relative to its status as Europe's largest office market.
The asset comprises a newly designed, eight-story complex totaling 13,700 square meters of Grade A office and shared workspace, architected by ORY Architecture. The development rehabilitates a previously vacant building and incorporates significant amenities including landscaped gardens, more than 150 parking spaces, and 2,700 square meters of green terraces integrated throughout the structure. The project is engineered to achieve efficient occupancy density of approximately 1 person per 10 square meters—a density exceeding typical Paris market standards—while maintaining sustainable, flexible layouts suited to evolving workplace demands.
The property is designed to meet contemporary environmental and technical standards, with particular emphasis on flexibility and resilience. The development will integrate Hemisphere Smart Services (H2S) technology and multi-use common areas to accommodate modern tenant requirements for agile working arrangements and social distancing protocols. Completion is scheduled for the third quarter of 2023.
Fabio Longo, Managing Director at Bain Capital Credit, highlighted the strategic rationale, noting the Paris market's historical supply constraints, continental scale, and resilience relative to peer European metropolitan centers. He emphasized the asset's future-proofing through flexible spatial design and scalability within the broader Bain Capital Credit portfolio.
The asset comprises a newly designed, eight-story complex totaling 13,700 square meters of Grade A office and shared workspace, architected by ORY Architecture. The development rehabilitates a previously vacant building and incorporates significant amenities including landscaped gardens, more than 150 parking spaces, and 2,700 square meters of green terraces integrated throughout the structure. The project is engineered to achieve efficient occupancy density of approximately 1 person per 10 square meters—a density exceeding typical Paris market standards—while maintaining sustainable, flexible layouts suited to evolving workplace demands.
The property is designed to meet contemporary environmental and technical standards, with particular emphasis on flexibility and resilience. The development will integrate Hemisphere Smart Services (H2S) technology and multi-use common areas to accommodate modern tenant requirements for agile working arrangements and social distancing protocols. Completion is scheduled for the third quarter of 2023.
Fabio Longo, Managing Director at Bain Capital Credit, highlighted the strategic rationale, noting the Paris market's historical supply constraints, continental scale, and resilience relative to peer European metropolitan centers. He emphasized the asset's future-proofing through flexible spatial design and scalability within the broader Bain Capital Credit portfolio.
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