This office building is owned by the City Hold Office Partnership (CHOP) fund and managed by Nuveen Real Estate.
The project team is composed of THEOP (MOD), Bouchaud Architects and Art Qad Architects. The heavy renovation of the building is carried out by DUMEZ.
The redevelopment increases the quality of the asset by 4 notches: it goes from pre-restructuring B rating to post-restructuring AA rating.
This increase in asset quality is due to a work plan focusing on connectivity and space efficiency, user well-being, and the ability to generate environmental performance:
- The Economic Utility rating increases by 20% (up 75% for connectivity);
- The Environmental Utility rating increases by 31%;
- The Social/Societal Utility rating increases by20%.
The RQR rating is a holistic and objective rating that measures the intrinsic quality of an asset according to:
– 3 real estate dimensions (location, building, workspace),
– 3 sustainable development dimensions (economic utility, social utility, environmental utility).
The rating positions an asset relative to peers in its market.
The rating scale ranges from E to AAA.
Disclaimer – Global Quality Rating from RQR
The Global Quality Rating for 36 Lafayette has been done in accordance with the RQR methodology. It has been based on the asset analysis incorporating the restructuring plan provided by Nuveen Real Estate. The building was not delivered at the time of the quality rating. The quality rating is therefore estimated and could not be audited. The rating was done on 12 November 2019.
The rating is based on information provided by Nuveen Real Estate. The rate of documented information reaches 93%. As a result, the confidence level of the information sources is 4/5 (“very high level”).
The methodology used is available on request.