Novaxia Développement recycles 10.000 m² of obsolete offices into “build-to-rent” hotel accommodation in Rueil-Malmaison

This operation, financed by the Novaxia R fund managed by Novaxia Investissement, will recycle 10.000 m2 of obsolete offices, vacant since 2019, into a residence with more than 450 accommodation units, numerous common and service areas, as well as a restaurant, for a surface area of ​​19.000 m². This complex and innovative real estate project, which will be delivered in the second half of 2026, is emblematic of Novaxia Développement's expertise in assembly, programming, development and marketing.

For Romain Ferré, Director of Promotion at Novaxia Développement: "This large-scale project in Rueil-Malmaison perfectly illustrates Novaxia Développement's expertise in recycling complex assets into innovative opportunities. By recycling 10.000 m² of vacant offices into a hotel residence, we are aiming for a dual creation of value, financial for the investor and extra-financial for the region. This operation, carried out on behalf of NATIF Asset Management, demonstrates our ability to manage projects for external third parties."

A high-quality hotel accommodation complex in the heart of Rueil-Malmaison

Located in the "Rueil 2000" district in the heart of the city of Rueil-Malmaison, this new project aims to recycle an office building dating from the 1990s into a short and long-term hotel accommodation residence. With this operation, Novaxia Développement is responding to a dual problem: the growing vacancy of offices in the Ile-de-France region and the shortage of accommodation in this area.

For Tom Jelley, President of Natif Asset Management: "Our Rueil Malmaison project is one of the first major serviced residence projects initiated by Natif Asset Management in France. We have the ambition to become one of the major players in the residential rental market in France in the medium term. This partnership with Novaxia Développement and the Béchu + Associés agency perfectly illustrates our desire to work with leading players to develop operations that meet the quality standards that we wish to offer our clients."

With a surface area of ​​10.000 m², this obsolete office has remained vacant since Sogefinances left in 2019. Its transformation will give rise to a high-end residential hotel asset with 19.000 m² of floor space. Comprising 9 floors and 3 basement levels, the building will offer 452 accommodation units (T1, T1 bis and T2 types), 196 parking spaces, as well as numerous common areas for future residents: patio, terraces, residents' lounge, coworking space, gym, cinema room, games room and a new restaurant that will also be open to local residents. Designed as a real place to live, the project will revitalize this urban center that was until now very tertiary, by offering a new type of activity and new uses in the neighborhood. Designed by the architectural agency Bechu + Associés, the project aims to create an innovative housing offering that fosters social ties, while placing people at the heart of a plant-based environment.

For Olivier Soulier, co-founders of Natif Asset Management: "As a long-term investor and owner, NATIF AM is developing a range of independent and comfortable accommodation, as well as shared common areas, a factor of well-being and encounters. For the Rueil-Malmaison project, the interior decoration of the apartments and shared areas will be carried out by Maison Sarah Lavoine, whose style is recognized through the play of color associations, a mix of rooms, materials enhanced by the traditional know-how of its craftsmen and contemporary forms. At the service of the residents, the building manager will guarantee a high level of service and quality, a guarantee of daily serenity for the inhabitants and the sustainability of the building in the long term."

A new emblematic urban recycling operation for Novaxia Développement

Novaxia Développement has implemented all its expertise to successfully complete this complex urban recycling project. As the asset already had a tertiary building permit when it was acquired, Novaxia Développement filed a new building permit allowing it to change the use of the building to a “Build-to-Rent” operation.

The delivered building will comply with the RE2020 regulations for "collective housing", much more demanding than the RT 2012 regulations to which it is legally subject. Labeled BREEAM Very Good and NF Habitat HQE 7 stars, the project also aims to obtain the BIODIVERCITY label. In addition, the 3 existing basement levels will be preserved, thus limiting GHG (Greenhouse Gas) emissions. During deconstruction, at least 85% of the waste will be revalued and a minimum of 4% reused.

In accordance with Novaxia's commitments to socially responsible real estate, the building was temporarily occupied for almost a year to train law enforcement units in real conditions.

For Mathilde Krieger, Chairwoman of the Board of Directors of Novaxia Investissement: "This project is emblematic of the Novaxia R model: it recycles obsolete offices without artificializing the land, while meeting a need for local accommodation, a temporary occupation has been set up and the property has already been sold en bloc, which demonstrates the market's interest in this type of accommodation. Novaxia R will continue to develop its projects for the benefit of its investors, with currently 35 projects in progress."

Thanks to increasingly technical, original and innovative projects, Novaxia continues to establish itself as a leader in urban recycling. This project is a new concrete example of the model advocated by the Novaxia R fund by which it was financed, specializing in the recycling of offices into housing on behalf of individual and institutional investors.

What is Build-to-Rent?

Build-to-Rent (BTR) is a real estate model of residences exclusively intended for rental, rather than for sale. Unlike traditional projects where apartments are sold to individual owners, BTR buildings are owned by institutional investors or funds, who then rent them to tenants. This model is distinguished by the quality of the services offered to tenants, such as common areas (coworking, gym, etc.) and professional management of the building, aimed at offering a quality rental experience.