Lovells has tightened its hold on key client Prudential, with the firm advising the insurance giant on a development project located in the heart of Cannes.
A multi-departmental team led by Corinne Knopp advised the company on its acquisition of a site for a new development just 100m from Cannes’ famous Croisette. During the week of Mipim, the Deputy Mayor of Cannes, Bernard Brochand, laid the first stone for the project, called ‘Le Jardin Florian’.
Lovells won the mandate when the Pru first entered the French market last year. Although very active in the UK, it was not until then that the company ventured into Europe. “They started with a tender offer, but we were appointed very quickly,” said Lucas d‚Orgeval of Lovells’ Paris office.
It is the Pru’s third direct investment in Western Europe; it now also holds an indirect investment in a building in Italy and is set to invest further in Europe.