Gowling WLG's Paris-based PPP and Financing team has advised Sérendicité in relation to a circa €160 million public–private partnership agreement.
The agreement is for the financing, design, construction, operation-maintenance, major maintenance and renewal of buildings and equipment making up part of the Campus Condorcet in Aubervilliers, near Paris.
The Campus Condorcet, which is set to open in 2019, will be Europe's biggest international campus for human and social sciences. The project represents approximately 50,000 square meters of buildings on the Aubervilliers site, for an investment amounting to circa €160 million.
The Gowling WLG team comprised partners Jérôme Pentecoste, Emmanuel Paillard, Danhoe Reddy Girard, Jérôme Patenotte, senior associate Julie Vuagnoux and associates Paul Peyret and Alexandre Silva Delaquaize.
After a three-year tender process, the contract was awarded to Sérendicité, a special purpose vehicles (SPV) formed by the consortium of GTM Bâtiment (a Vinci subsidiary), 3i Infrastructure and Cofely Finance & Investissement for the purpose of the execution and performance of the contract.
Sérendicité will be developing the headquarters of the French Institute for Demographic Studies or INED, as well as research and training facilities for the 'campus' founding members, a conference center, a residence house for guest researchers, an interdisciplinary project center, campus support facilities, and 450 units of student housing.
The French public authority (EPCS Condorcet) was advised by Dentons and the lenders of the consortium were advised by Allen & Overy.