BNP Paribas REIM has acquired Square d’Orléans, a 14,000 sqm office and residential property, located at 80 rue Taitbout in Paris (9th), on behalf of the Danish pension fund PFA. The purchase price was not disclosed.
This historic English-style asset is built on a plot of 5,700 sqm in the heart of the district of New Athens in the 9th district of Paris.
The property was built in the style of London squares by Edward Cresy in 1830. It is registered with the historical monuments.
Square d’Orléans is located near the Opera Garnier on the edge of the Central Business District of Paris.
“This transaction is a perfect illustration of BNP Paribas REIM’s ability to manage and enhance complex property complexes over the long term. We are delighted to be acting on behalf of PFA for this investment. With PFA, we quickly shared the same vision regarding the mixed potential of this asset and how we could improve its positioning, ” commented Guillaume Delattre, Chief Investment Officer of BNP Paribas REIM France.
“This is a promising acquisition of a complex asset that demonstrates our ability to meet the demands of one of Europe’s most experienced and demanding pension funds. This collaboration is also proof of our presence alongside major international investors in Scandinavia, where BNP Paribas REIM has already successfully developed several partnerships, ” says BNP Paribas REIM Head of Institutional Sales Henri Romnicianu.
The buyer was advised by Wargny Katz and Allen & Overy. The financing of the transaction was carried out by BNP Paribas Corporate & Institutional Banking.