Caisse des Dépôts

The Banque des Territoires and ARTEA to create "L'Immobilière Durable", a real estate company dedicated to ESG real estate investments

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The Banque des Territoires (Caisse des Dépôts Group) and the ARTEA Group signed a memorandum of understanding on 14 January 2021 with a view to creating a new major player in sustainable real estate, thereby strengthening their historic partnership in this fast-changing sector. With an initial portfolio of commercial property assets worth €100m, L'Immobilière Durable is expected to invest more than €250m over the next two years.

Awareness of the real estate sector's impact on environmental protection has accelerated further with the health crisis. This is the reason why the Banque des Territoires and ARTEA decided to create L'Immobilière Durable, whose capital is split 60% for ARTEA and 40% for the Banque des Territoires.

This real estate company plans to carry out exemplary tertiary real estate investments with high environmental, social and governance (ESG) performance throughout the national territory. The ongoing search for environmental qualification for all projects (label and certification), the presence of solar power plants that will allow self-consumption (regulatory authorisation) since 2016 and the development of user services will contribute to the quality of this property.

Assets representing approximately 75,000 sq.m of office space in various regional cities have already been identified for development over the next two years. This new real estate development could therefore rapidly lead to the holding of assets worth more than €350 million.

Three Arteparc tertiary parks, located in Meyreuil, Sophia and Lesquin, in which the Banque des Territoires and ARTEA have already co-invested in previous partnerships, will be part of L'Immobilière Durable.

With its comprehensive and innovative know-how, the ARTEA Group will act as an investor, designer, developer, manager and sometimes operator in the context of its coworking and coliving activities.

The Bank of the Territories will provide equity and quasi-equity financing. It will be involved in the choice and decision-making process of each operation, and will ensure compliance with a grid of criteria ranging from environmental certification requirements to financing and profitability conditions. The L'Immobilière Durable project is fully in line with the action of the Banque des Territoires for the benefit of more attractive and sustainable territories.

Strengthening of a 10-year partnership in sustainable real estate

As a player committed to sustainable real estate, the ARTEA Group integrates the various real estate businesses, but also the operation of coworking and coliving areas and the production of "triple zero energy" (photovoltaic power plants and hydroelectric dams).

It has developed an original concept called Arteparc: office complexes for energy self-consumption, with strong environmental and socially responsible ambitions. The aim is to offer companies user-friendly premises that meet demanding ESG criteria for their employees.

As part of its sustainable development strategy, Caisse des Dépôts has been supporting this particularly innovative operator since 2011. To date, the two partners have co-invested in some fifteen buildings spread over three tertiary sector parks located in Meyreuil (near Aix-en-Provence), Lesquin (near Lille) and Biot (in Sophia Antipolis), representing a total of 35,000 sq. m. worth €100m, which will be part of the L'Immobilière Durable property company from the outset.

These parks are distinguished by major technological advances:

- Arteparc Meyreuil (2010): 1st BBC-compliant office park, 1st positive energy campus in France

- Arteparc Sophia (2019) : 1st private smartgrid in the PACA region



By creating, with ARTEA, L'Immobilière Durable, its first tertiary real estate company with high environmental ambitions, the Banque des Territoires participates in the emergence of environmental and innovative solutions as well as in the positive evolution of the real estate sector.
Antoine Troesch, Investment Director of the Bank of the Territories