Press release

LaSalle E-REGI buys hotel residence in Paris-La Défense from Kaufman & Broad under sale-before-completion agreement

Stay City
Tuesday 2 July 2019

PARIS (July 2, 2019) – LaSalle Investment Management (“LaSalle), one of the world’s leading property investors, has bought a hotel residence in the La Défense district under a sale-before-completion agreement on behalf of LaSalle E-REGI. The property has been fully pre-let to Staycity for a fixed duration of 12 years and was bought from Kaufman & Broad.

This new building will be delivered in the summer of 2021. It will join an office complex of around 30,000 sq.m developed around an 850 sq.m landscaped garden, called Highlight.

The hotel residence will have a surface area of 6,313 sq.m with 216 rooms spread across 7 stories, a whole variety of services and amenities (café, gym, laundry service and porter), a terrace and private parking. It will be certified BREEAM “Very Good”.

The building is on rue de l’Industrie in Courbevoie and strategically located close to the Esplanade de La Défense metro station (on line 1), so it will be able to draw in business clients and tourists alike.

LaSalle received advice for this transaction from Cheuvreux, ALAMO, SBKG and MKG Consulting, along with funding advice from the GSK consultancy. Kaufman & Broad was advised by the Wargny et Katz consultancy, as well as by Cushman & Wakefield and Catella for the marketing aspects.

LaSalle E-REGI is a pan-European open-ended real estate fund (AIF) with assets under management of €740 million currently. The fund was launched by asset management company LaSalle Investment Management Kapitalverwaltungsgesellschaft mbH (“LaSalle KVG”) and has drawn in capital from several major institutional investors. It aims to deliver stable performances from a portfolio of diversified core assets (offices, retail space, logistics and hotels) and with an investment strategy that applies a quantitative model, i.e. the E-REGI (European Regional Economic Growth Index). LaSalle created this index in 1999 and it identifies the cities and regions of Europe that offer the most economic growth potential in the short and medium term.

Uwe Rempis, LaSalle E-REGI fund manager, notes: "This is our fourth acquisition in France and our very first alternative investment in the country. This is a priority segment for our fund; we select core assets of very high quality and in prime locations".

Beverley Shadbolt, Country Manager LaSalle France, adds: “We are delighted with this first alternative investment in France and believe this sector will perform extremely well in the coming years. LaSalle boasts solid experience in investing in alternative assets across Europe, and we will continue to actively seek other similar opportunities in France”.

 David Laurent, General Manager Business Property and Major Urban Projects at Kaufman & Broad, comments: We are proud to participate in the City’s own reconstruction in order to make it a more sustainable and pleasant place to live, and to promote the emergence of new lifestyles and new services for its users. The development of this new hotel in the Central Business District of La Défense is also further evidence of our growing business”.


About the LaSalle E-REGI fund

The LaSalle E-REGI fund uses LaSalle’s quantitative model to identify the cities and regions of Europe that offer the most economic growth potential in the short and medium term, i.e. where demand for real estate is likely to be strongest. It was launched by LaSalle Investment Management Kapitalverwaltungsesellschaft mbH (“LaSalle KVG”), which is fully owned by LaSalle GmbH, and the fund has drawn in capital from several major institutional investors. It is broadly diversified and boasts an excellent performance track record relative to its benchmark index, the IPD SFIX.

About LaSalle Investment Management

LaSalle Investment Management is among the world’s leading real estate investment management firms with around 65 billion dollars of assets under management (in the 1st quarter of 2019) in listed and unlisted funds. LaSalle operates in a broad range of real estate capital markets and handles the operational management of its assets. The firm invests in the equity markets as well as in debt instruments, whether listed or unlisted, on behalf of clients that include public and private pension funds, insurance companies, government institutions, foundations and private investors from around the world. LaSalle is an independent subsidiary of JLL (NYSE: JLL), one of the world’s biggest real estate management companies.

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KAUFMAN & BROAD has been designing, developing, building and selling apartments, houses, managed accommodation, retail and business premises, and office buildings for 50 years.

KAUFMAN & BROAD is a true urban complex designer and developer working alongside regional authorities to help them plan new neighborhoods and major urban projects; its size, profitability and strong brand have made it one of France’s leading developer-builders.


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Raphaële-Marie HIRSCH – +33(0)1 41 34 22 07 /

Valérie SICARD – +33(0)1 58 65 00 72/

Emmeline CACITTI – +33(0)6 72 42 66 24 /