Press release
Paris, 7 December 2021
Levine Keszler advises the Banque des Territoires de la Caisse des Dépôts et Consignations on its acquisition of a stake in Sangha Hôtel Toulouse
Banque des Territoires continues to support the development of the Cartoucherie eco-neighbourhood by investing in the new Sangha Hôtel.
The Banque des Territoires is strongly committed to the development and urban renewal of the Cartoucherie eco-neighbourhood alongside Toulouse Métropole, and is strengthening its role as a project partner by investing €800,000 in the new Sangha hotel concept.
Located to the west of Toulouse city centre, the Cartoucherie district is being developed on the 33-hectare site of the former GIAT1 military and industrial site. The ZAC, developed by SEM OPPIDEA, is served by two Toulouse tramway lines (T1 & T2).
Led by Muriel Roquejeoffre, the mixed-use Sangha hotel project, combining accommodation and services, has received the support of the Banque des Territoires through an equity and quasi-equity investment of €800,000 in SAS Sangha Immobilier Toulouse. This property holding company will be 60% owned by Muriel Roquejeoffre, via her company Sangha Hôtel Toulouse, and 40% by Banque des Territoires.
With its new Asian-inspired 3-star wellness hotel concept, Sangha Hôtel will join the Cartoucherie’s hotel offering, which includes the eco-responsible EKLO hotel currently under construction, in which Banque des Territoires is also a co-shareholder. The commercial property division of the developer Carrere is responsible for carrying out the work on the building in which Sangha will be located. The total cost of the project is estimated at €6.2m.
Part of the Cartoucherie eco-district’s development drive, the 75-room project is due to open in early 2024. The Sangha hotel will be located on the corner of the two renovated covered market halls on the future Place des Halles. The 2162 m² hotel will occupy the top six floors of the BLISS building, with a rooftop including the reception, a lounge, a lounge bar, a breakfast room and a 150 m² terrace. The wellness services included in the concept will be provided by a dedicated structure located on the first floors of the building or in the Halles de la Cartoucherie (yoga, meditation, alternative medicine, massages, etc.).
Levine Keszler advised the Banque des Territoires de la Caisse des Dépôts et Consignations on this transaction.
Counsel to Banque des Territoires de la Caisse des Dépôts et Consignations :
Levine Keszler (Nicolas de Courtivron, partner in M&A and Private Equity and Caroline Long, partner in Real Estate): contractual, corporate and real estate aspects of the transaction.
The full press release is attached.
