Primonial REIM, La Française et EDF Invest signent avec Unibail-Rodamco-Westfield une promesse de vente sur l'immeuble de bureaux "Shift" à Issy-Les-Moulineaux

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Primonial REIM, La Française and EDF Invest sign a sale agreement with Unibail-Rodamco-Westfield for the "Shift" office building in Issy-Les-Moulineaux

A consortium made up of various Primonial REIM funds, La Française and EDF Invest today signed a sale agreement with UNIBAIL-RODAMCO-WESTFIELD for the “Shift” office building, which serves as Nestlé’s head office in Issy-les-Moulineaux (92). The final sale contract is scheduled to be signed in early 2021, once the usual conditions precedent have been met.



The Shift building covers a surface area of over 47,0002 spanning 7 floors, and offers exceptional amenities and services: 4,000m2 of energy-efficient floor space receiving direct light, 1,200m2 of meeting areas, 3,000m2 of collaborative workspace, a food hall offering a variety of catering concepts, 1,800m2 of private terraces, enclosed and outdoor balconies on each floor, and a 2,600m2 landscaped roof terrace including an alternative workspace.

The building was designed in 1990 before being fully redeveloped and was delivered in February 2020. It was designed by the Arte Charpentier Architectes agency based on an open core living area, offering its occupants a degree of comfort and working experience that are unique. The transparent and contemporary architecture of the biomimicry-inspired façade produces a cinematic effect, and the interior design is open and luminous, making the building conducive to interaction thanks to a variety of spaces created for its users.

The Shift building boasts dual certification: BREEAM “Excellent” and HQE (high environmental quality) “Exceptional”. It is fully let to the Nestlé group under a 12-year lease.


The real estate complex offers a high degree of visility as it is located along the edge of of the Paris ring road and its address spans both Issy-Les-Moulineaux and Paris 15th. It lies in the Western Crescent, a well-established business district that draws in international corporations, administrations and local amenities. It is thus fully accessible by public transport and also easy to access by road.

Grégory FRAPET, Chairman of Primonial REIM's Management Board: "Shift is a remarkable building meeting the highest international standards with respect to its environmental performance as well as its architectural quality and the services it offers its users. Primonial REIM is making this acquisition alongside La Française and EDF Invest. This is yet another example of our ability to both source, structure and finalise top-tier emblematic property transactions in Europe's largest real estate market and pursue our growth strategy by selecting investments capable of delivering yields that can be sustained over the long term."

Primonial REIM was advised for the purposes of this partnership agreement by the Fairway law firm (Maître Frédéric LEFEBURE), SCP ALLEZ & ASSOCIES solicitors (Maître Guillaume CHEMITHE), Kramer Levin (tax advice from Maître Pierre APPREMONT) and ESSOR (for the technical audit).

About Primonial REIM

Primonial Real Estate Investment Management (Primonial REIM) is a portfolio management company that was authorised by the Autorité des Marchés Financiers (AMF) in 2011. Its purpose is to design and manage a range of investment vehicles that reflect its strong convictions about the real estate markets. Its aim is to make SCPI real-estate funds – investing in office, retail, healthcare/education and residential properties – available to the widest possible audience.

As a portfolio management company, Primonial REIM creates and manages real estate collective investment undertakings for institutional and retail investors. On 10th June 2014, Primonial REIM obtained AIFM (Alternative Investment Fund Manager) authorisation from the AMF, under which it is subject to increased obligations in areas such as reporting, liquidity monitoring and risk management when managing alternative investment funds. Its Management Board consists of Grégory Frapet, Chairman, Stéphanie Lacroix, Managing Director, and Tristan Mahaut, Secretary General.

About EDF Invest

EDF Invest manages unlisted investments in the EDF Group’s Dedicated Assets portfolio, which was set up to cover France’s future nuclear decommissioning costs. EDF Invest targets three asset classes: infrastructure, real estate and private equity, and invests in France as well as overseas, thereby offering a certain degree of security and visibility for the long term.

About La Française

Environmental and societal challenges are opportunities to reconsider the future. Identifying drivers of change and understanding how they will fashion global growth and ultimately influence long-term financial performance is at the heart of La Française’s mission. The group’s forward-looking investment strategy is built upon this conviction.
Organized around two business lines, financial and real estate assets, La Française has developed a multi-boutique model to serve institutional and retail clients in France and abroad.
La Française manages €50 billion of assets through its offices in Paris, Frankfurt, Hamburg, London, Luxembourg, Madrid, Milan, Geneva, Stamford (CT, USA), Hong Kong, Seoul and Singapore. (30/06/2020).
La Française is a subsidiary of Caisse Fédérale du Crédit Mutuel Nord Europe (CMNE). Crédit Mutuel Group has the following Standard & Poor’s ratings (04/2020): Long term: A, negative outlook / Short term: A-1.

PRIMONIAL REIM press contacts

Véronica Basallo-Rossignol Europe Marketing & Communication Director

Agence de presse <br>Edelman
Edelman France for Primonial REIM PR agency
07 77 96 24 42