De Gaulle Fleurance advised the Banque des Territoires on its partnership with FREY in the Docks de Saint-Ouen retail complex

De Gaulle Fleurance assisted the Banque des Territoires in its acquisition of a 45% shareholding in the SCI Les Docks de Saint-Ouen alongside FREY, a real estate company specialising in property investment and the development of shopping parks and centres in Europe.

 

FREY retains a majority stake and will continue to manage this retail complex.

 

Located in Saint-Ouen-sur-Seine (93), in the new mixed-use district known as “Les Docks”, the project is a major urban development: 24,000 sq. meters in total, linked to the centre of Paris by the metro extension of line 14 and situated at the heart of an eco-district with 15,000 inhabitants and 30,000 employees.

 

The district will eventually include a 12,000 sq. meters market hall; 8 snack kiosks; 4 restaurants; a microbrewery; a cocktail bar; an estaminet; 4,000 sq. meters of office space; a production/radio studio; a shared kitchen; an incubator; a conference room; an immersive space and a 250-seat events hall; and a 12,000 sq. meters shopping street, the first phase of which has already been leased to major national retailers, healthcare providers and local shops and services.

 

In connection with this acquisition, the SCI Les Docks de Saint-Ouen arranged a €45m mortgage debt with a banking pool comprising Banque Postale and Arkéa Banque.

 

The Banque des Territoires was advised by De Gaulle Fleurance on the audit and contractual documentation relating to this investment:

• on the corporate aspects: Brice Mathieu, senior counsel and Anne Kuhanathan, senior associate.
• on the real estate law aspects: Muriel Guillin-Modaine, associate and Sofian Meghoufel, lawyer.

 

Rochebois Notaires also assisted the Banque des Territoires.

FREY was advised by Lacourte Raquin Tatar and Cheuvreux.

 

“We are delighted to have supported the Banque des Territoires in this major property development, which is set to give a major boost to the Docks district,” explains Muriel Guillin-Modaine, a partner at De Gaulle Fleurance.