La Française Real Estate Managers (REM) has acquired off-market an off-plan hotel in Marseille, France
The 237-room off-plan hotel, operated by Ruby Hotels is at 49-53 boulevard des Dames and is part of a mixed-use development. The 8,778 square meter building with a ground floor, plus nine floors above was sold by BNP Paribas Real Estate Property Development.
Off-plan hotel delivery scheduled in 2025
Designed by the GENSLER / Claire FATOSME & Christian LEFEVRE consortium and entirely redesigned by BNP Paribas Real Estate Property Development, the hotel will offer a host of upmarket services, including a rooftop terrace and lounge bar on the ninth floor. Delivery is scheduled for the end of 2025.
After handover, the hotel and co-working space will be operated by the hotel operator Ruby Hotels. Established in 2013 and with 16 existing properties and 20 more in planning or under construction, Ruby Hotels is based on the concept of “lean luxury”, with the aim of providing guests a high-end experience at an affordable price.
Just a 10-minute walk from the Old Port of Marseille, a few minutes from Les Docks Village shopping centre and near the historic Panier district, the development is situated in a prime location.
Easily accessible by public transport, the mixed-use development includes the 7,582 square meter hotel and a 945 square meter co-working space spread over three floors, as well as a 251 square meter pharmacy.
BREEAM “very good”
The complex will be certified BREEAM “very good” and will be connected to the Thassalia urban marine geothermal network. The project will be integrated into the “Booster du Réemploi” to promote the circular economy, and at least 5% of site hours will be reserved for the integration of vulnerable groups or populations that are excluded from the labour market, making it an exemplary project from both social and environmental perspectives.
Leslie Villatte, Director of Institutional Real Estate Investments and Development — France of La Française Real Estate Managers — Institutional Division, says, “The asset benefits from an ideal location that is consistent with the positioning of the Ruby Group, a first-rate tenant. It boasts a host of top-of-the-range facilities and excellent accessibility thanks to its location in the heart of the Marseille city centre. Moreover, this investment strengthens the diversification of our portfolio of tourism assets with the addition of a first-rate operator.”
Urban transformation project
Olivier Bokobza, Chairman of BNP Paribas Real Estate Property Development says, “The refurbishment of an obsolete commercial property belonging to the BNP Paribas Group into a hotel that meets the highest environmental and social standards is a genuine urban transformation project that reflects BNP Paribas Real Estate’s strategy for the years to come. It is a perfect illustration of the synergies we are developing for our partners such as La Française REM and Ruby Hotels Group.”
This acquisition was completed on behalf of two real estate investment vehicles managed by La Française REM. La Française REM was advised on this transaction by Allez et Associés, LPA-CGR and also Delpha Conseil. BNP Paribas Real Estate Property Development was advised by BNP Paribas Real Estate’s Residential and Hospitality Advisory teams, the Thibierge notary office and also Gide. Ruby was advised by CMS Francis Lefebvre Avocats.
