Located at 46 rue Camille Desmoulins in Issy-les-Moulineaux, in southwest Paris, the renovation of this 16,500sqm office, which is managed by PIMCO Prime Real Estate on behalf of Allianz, is scheduled to complete by the end of 2024.
The Equilis transformation project has been conceived with sustainability, technology and user experience in mind. One of its outstanding aspects is the use of sustainable materials in the reconstruction alongside the reuse of existing materials, meaning carbon emissions will be 15-35% less than a standard renovation. In addition, the latest technologies and intelligent management systems have been integrated into the building’s design to deliver optimum energy efficiency – with post-renovation energy consumption expected to reduce by around half compared to 2015 levels. This performance will ensure that Equilis is compliant with the French Décret Tertiaire (Tertiary Decree) requirements. These elements combine with the flexible use of space, i.e. a mix of open and partitioned workspaces, to create a comfortable, sustainable environment for users.
With Equilis, PIMCO Prime Real Estate is targeting WiredScore V3 and Smart Score labels – which reflect the building’s high standards of connectivity. It also targets BREEAM ‘Excellent' and the BBCA (the association for the Development of Low-Carbon Buildings) sustainability certifications, and a well-being certificate from Osmoz.
In its Real Estate Reckoning paper, published in June, PIMCO’s view of the trifurcation of the office market proposed that there is a middle segment of B+ and A- grade properties in strong locations which, with significant ‘brown-to-green’ investment, can be transformed into top quality assets, representing opportunities for investors. The renovation program planned for Equilis places the asset in that category.
Donato Saponara, Head of South West Europe and Co-Head of Investments Europe at PIMCO Prime Real Estate, commented: “Equilis is an example of sustainable construction, combining aesthetics, functionality and environmental responsibility. The building is a modern, dynamic place to work – a workplace that will earn the commute from its users thereby enabling tenants to attract and retain talent.”
The complex extends from the ground floor to the seventh floor, with four basement levels comprising 382 parking spaces, 20 of which are EV charging stations, and a 360sqm room for bikes.
Nature plays a central role as a source of well-being for users throughout the building. The ground floor features 600sqm of gardens and patios, there are also 730sqm of terraces. The rooftop offers 370sqm of planted area, designed by landscape architects Les Jardins de Gally, which creates a veritable urban oasis.
The ground floor also offers new service areas accessible to the public – including a multi-purpose room arranged around the garden, a creative lab, a fitness area and a Food Barista – have been created. The double-height main hall is classified as an ERP (établissements recevant du public, or facility receiving the public), with a capacity for approx. 200 people.
A leading global real estate investor and manager, PIMCO Prime Real Estate is a PIMCO company and part of the PIMCO real estate platform, focusing on the Core and Core+ segments of the market and managing the Allianz Group’s $96B+ real estate mandate.
Formerly known as Allianz Real Estate, we manage a global investment portfolio of $100.5B AUM, with an international team of nearly 500 employees working in 17 offices in Belgium, China, France, Germany, Italy, Japan, Singapore, Spain, Sweden, the UK and the U.S.
PIMCO’s real estate platform is one of the largest and most diversified in the world, with over $194B1 in assets and a broad set of solutions that leverage decades of expertise across public and private equity and debt markets.
As of June 2023. All figures in USD. 1AUM includes $100.5B in estimated gross assets managed by PIMCO Prime Real Estate (formerly Allianz Real Estate), which includes PIMCO Prime Real Estate GmbH, PIMCO Prime Real Estate LLC, and their subsidiaries and affiliates. PIMCO Prime Real Estate LLC is a wholly-owned subsidiary of Pacific Investment Management Company LLC, and PIMCO Prime Real Estate GmbH and its affiliates are wholly-owned by PIMCO Europe GmbH. PIMCO Prime Real Estate LLC investment professionals provide investment management and other services as dual personnel through Pacific Investment Management Company LLC. PIMCO Prime Real Estate GmbH operates separately from PIMCO.