International law firm Ashurst advised French asset manager Omnes Capital on its strategic partnership, through managed fund Construction Energie Plus (CEP), with event operator Culture & Patrimoine, leading to the setting up of a real estate investment joint company dedicated to the acquisition and renovation of landmarks of the French architecture, geared at being used for corporate events, cultural and touristic activities.
The partnership settled with the signature of the joint company's first investment in the renovation project of a 10 hectares real estate complex owned by the French state and located in the Paris area, comprising the "Hangar Y" historic monument, through the execution of a long term administrative valorization lease with the French State.
Hangar Y, first worldwide airships shelter set up in the nineteen century and which metallic structure comes from the 1878 World Fair's pavilions, is destined to become a flagship location for scientific culture and economic development in West Paris.
CEP fund is dedicated to financing projects for the construction or renovation of public and private buildings with high environmental performance in the main French cities.
Omnes Capital is a leading Paris-based European investor in private equity and infrastructure.
The Ashurst team in Paris advising Omnes Capital on this transaction was led by M&A/Energy & Infrastructure partner Vincent Trevisani, assisted by senior associates Isaure Sander and Alexis de Foucault, as well as by counsel Jacques Dabreteau on the administrative and public law aspects of the transaction, partner Philippe None and senior associate David Noblinski on the real estate aspects, and partner Emmanuelle Pontnau-Faure and associate Solène Guyon on tax related aspects of the investment.
