AXA Real Estate said that its pan-European Development Venture III (DVIII) fund is to build the new headquarters office for Natixis' Coface subsidiary as part of an extension of the district of Bruyères in Bois Colombes near La Defense, Paris.

Coface has signed a nine-year lease upon completion of the scheme expected for mid-2013. The CityZen complex will offer nearly 30,000 m2 of office space across two buildings located near the Bécon les Bruyères station. The property will boast a High Quality Environmental (HQE) green certification.

DTZ and BNP Paribas Real Estate advised AXA Real Estate. AOS Studley acted for Coface.

Development Venture III (DVIII) is a pan-European development fund with total equity commitments of EUR 377 mln. The fund aims to raise total funds of EUR 600 mln which with leverage will give it a spending power of EUR 1.3 bn in development projects across Europe.