AXA IM Alts has acquired a 12 hectare site in Bry-sur-Marne and Villiers-sur-Marne, Paris, which includes one of France’s largest film and TV studios, from Nexity, for an undisclosed price.
The Bry-sur-Marne studios provide circa 5,600 sq m (circa 60,000 sq ft) of studio space across eight stages, in addition to extensive production accommodation of 20,000 sq m (circa 215,000 sq ft) comprising workshops, offices, assembling sets and costume and artist dressing rooms.
The transaction is AXA IM Alts’ first in the fast-growing studio sector and the company intends to undertake a “significant development programme” across the site which will more than double production capacity and make it one of the largest studios in continental Europe.
John O’Driscoll, global co-head of real estate at AXA IM Alts, said: “This was a rare opportunity to acquire one of the largest studios in France, close to Paris’ city centre, with good infrastructure and the option to extend the premises to meet rapidly growing demand.
“The investment also aligns with our purpose to deliver long-term value to clients; consolidated sites such as Bry-sur-Marne, which can house the entire content production ecosystem, are essential in accelerating the decarbonisation of the film industry. We have ambitions to significantly scale our studios real estate platform.”
