Baker McKenzie has advised the Culture & Patrimoine group in the framework of a strategic partnership and the creation of a joint real estate investment trust with Omnes via its Construction Energie Plus (CEP) fund, the purpose of which is to finance the acquisition and renovation of buildings destined for corporate events and cultural or tourist activities.
 
The conclusion of this partnership is accompanied by the signature of a long-term administrative and development lease by the joint real estate investment trust concerning a property complex belonging to the French state, with a surface area of 10 hectares, situated in Meudon and including Hangar Y and the Etang de Chalais.  Baker McKenzie also assisted the Culture & Patrimoine group with the negotiation and signature of this lease.
 
Created in 2016, the Culture & Patrimoine group’s ambition is to develop touristic and events-based activities by rehabilitating exceptional properties, which are part of France’s architectural heritage.
 
Omnes is a major player in private equity and infrastructure. With €3.6 billion assets under management, Omnes provides businesses with the capital necessary for their development via its three reference business lines which are Risk Capital, Buyout and Growth Capital and Infrastructure. Its CEP fund is dedicated to financing construction or renovation projects for public and private buildings with high energy and environmental performance in the main French cities.
 
Hangar Y, which is intended to become a key place of scientific culture and economic development in West Paris, is a building which served as a shelter for the first airships launched in France and whose metal structure was used for the pavilions of the 1878 World Fair.
 
Baker McKenzie advised Culture & Patrimoine with a team led by Antoine Caillard, senior counsel in M&A, assisted by Raphael Sendowski, associate in M&A, with Alexia Robbes, partner, and Roman Roussel, associate, for public and real estate law aspects. Nathalie Marchand, partner, and Pauline Celeyron, associate, were also consulted on intellectual property law aspects.