EPP TIGRE, European Property Partners Société Tigre

This site located in Bezons, France, on which the River Ouest office complex was developed, was purchased in 2007 from a TIGRE advised fund. 

In 1998 the TIGRE advised fund had purchased an industrial site containing about 11 hectares (27.2 acres) of land and 29,000 sqm of office and industrial buildings from a French firm. Obsolete buildings on selected portions of the site were removed by TIGRE, and existing soil pollution on the site was successfully remediated.

After it was announced in 2005 by the French government that a tramline was being extended from the important Paris office park la Defense to a station near the Bezons site, TIGRE began working with the local Bezons government to increase the building density on the site.

After the site was re-zoned to permit the development of mid-rise office buildings, a significant portion of the re-zoned land was optioned to be sold to an international office development company. TIGRE agreed to obtain all necessary building permits, negotiate road improvements and realignments and other entitlements necessary for the construction of the developer’s new office complex to be called River Ouest.

When the permits and entitlements were obtained, the TIGRE advised fund then sold the land in July 2007 to the developer while retaining an equity interest in the development entity.

The developer constructed a 64,279 sqm, three building complex on the site, completing construction in July 2009. Over the next two years, River Ouest was 100% leased to four tenants and sold in July 2011 to a consortium of three French institutional investors.

River Ouest was a great architectural and economic success for the developer and an economic success for the TIGRE advised fund that was both the land seller and equity partner in the venture.