Investment year
Lead team
Real Estate
  • Expertise
    Real Estate
  • Fund
  • Status
    In portfolio
  • Geographical area
  • Business sector

Asset overview

Navarin is a unique asset owing to both its architecture and its location within the tech cluster in the ninth arrondissement of Paris. The building offers large office units with ceiling heights of more than 4 metres as well as over 1,300 m² of outdoor terraces offering great views of the main Paris monuments. Since July 2022, the building has housed the headquarters of the online payment institution Qonto, a deal arranged through WeWork, covering 60% of the total floor area.

Our approach

Navarin is a project that goes to the very heart our convictions with respect to the intrinsic characteristics of the asset and its location. The ninth arrondissement of Paris is among those most deeply affected by a limited supply of quality office space set against a high level of user demand.

The building already houses the headquarters of the French unicorn Qonto. The unoccupied portion (40% of the total floor area) is currently undergoing renovation with the aim of obtaining the latest environmental certifications and so as to offer users contemporary, light-filled office units, with no vertical beams, some of which enjoy unequalled views of Montmartre.

Key   figures

Certifications targeted

– BREEAM (Building Research Establishment Environmental Assessment Method) certification
– BBCA (Bâtiment Bas Carbone) label
– OsmoZ quality of life at work label (Certivéa)
– WiredScore digital connectivity certification
“The acquisition of this asset, purchased from a private seller and closed in less than four weeks, offers an apt illustration of our platform’s agility, a key factor for success in a market where “trophy” assets are extremely competitive. This investment also demonstrates our ability to pursue larger transactions when we are convinced by the principle behind the investment, the entry price and the liquidity of the asset. Lastly, it shows our openness to working with joint investment partners when such an opportunity presents itself.”
Jean-Philippe Olgiati – Partner and Managing Director – Real Estate