Foncière Atland and PGGM have announced the launch of a Paris and Ile-de-France office partnership. The joint venture has an allocation of circa €250 million to invest. It has successfully completed its first investment, 38 rue de la République, in Montreuil. Foncière Atland and PGGM have established the joint venture to source attractive investments in Paris and Ile-de-France. The partnership will target investments that offer growth potential that can be captured through asset management initiatives such as re-letting, re-gearing of leases, refurbishment, redevelopment and extension infill. The objective is to create properties that become recognized as core assets with strong income return characteristics for the long term and, at the same time, will have a substantial lower carbon footprint than at the date of acquisition. Foncière Atland will co-invest in the joint venture, and its subsidiaries will lead the acquisitions process and manage the assets.  An OPPCI (professional real estate investment scheme), structured and managed by Voisin, will acquire the assets upon approval by the French AMF.