PGIM Real Estate has signed a forward purchase agreement for the development of SWELL, two office buildings in Clichy, France. The transaction was executed off-market on behalf of investors of a discretionary pan-European value-add fund.
The property comprises two 104,410 sq ft buildings and is located in the urban development zone of Bac d’Asnières, which is currently being redeveloped and will host mixed-use office, industrial and residential space. Due for completion in 2020 by developer OGIC, SWELL was designed by architect Jean Baptiste Pietri.
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