Property developer Finamas and real estate company CEPAC Immobilier have completed the second acquisition under their joint venture and the first in Marseille.
CEPAC Immobilier – which operates as a subsidiary of regional bank Caisse d'Epargne CEPAC – teamed with Finamas to buy the 30-storey M99 tower. In recent years, CEPAC Immobilier has been involved in significant real estate transactions, including a €300 million strategic partnership with Groupe Finamas to further expand its real estate portfolio.
Located at 480 avenue du Prado in Marseille 8th, M99 tower comprises 95 student residences over the first five floors, a 130-key hotel from the 6th to 11th floors, restaurants on the 12th and 13th floors as well as 107 luxury apartments from the 14th to the 29th floor.
The 4-star Hilton hotel will be operated by Magora (Groupe Duval) under the DoubleTree by Hilton brand and is scheduled to open in the first quarter of 2028.
Finamas and Cepac were advised by Paul Talbourdet of De Pardieu Brocas Maffei and Lionel Voglimacca of the Feraud-Voglimacci-Giannone notary office.