BNP Paribas REIM has announced the acquisition of Square d’Orléans, located 80 rue Taitbout in Paris (9e), on behalf of the Danish pension fund PFA.
Square d’Orléans is an exceptional 14,000 sqm property erected on a 5,700 sqm land plot in the heart of the “Nouvelle Athènes” quarter within Paris’ 9th district. This historical property built in 1830 by Edward Cresy is designed in the same manner as London squares with classical English architecture and has been the residence of illustrious artistes including Frédéric Chopin, George Sand and Charles Baudelaire. It is registered as a historical monument of Paris.
This asset benefits from an excellent location, in the vicinity of Opera Garnier and on the edge of Paris Central Business District. The property is used as both office and residential with a diversified tenant base, it is organized around a main and secondary courtyard, offering unique working and living conditions in the heart of the French capital.
Guillaume Delattre, Chief Investment Officer, BNP Paribas REIM France, comments: “This transaction illustrates BNP Paribas REIM’s capacity to manage and create long term value on complex real estate properties. We are thrilled to act on behalf of PFA for this investment, with whom we very quickly shared the same vision on the mix
of use enhancement potential of Square d’Orléans and how we could optimize the asset”.
Henri Romnicianu, Head of Institutional Sales, BNP Paribas REIM, adds : « This is a very exciting acquisition that demonstrates our ability to meet the requirements of one of the most demanding and skilled European pension funds. This cooperation also demonstrates our presence alongside international investors in the Nordics where BNP Paribas REIM has now successfully built several partnerships”.
BNP Paribas REIM has a wide range of investment solutions including Separate Accounts, working in close partnership with global institutional clients to devise the bespoke strategies they require and offer custom-made solutions that match their needs and risk profiles.
The buyer has been advised by Wargny Katz notary’s office and Allen & Overy. This acquisition has been financed by BNP Paribas Corporate and Institutional Banking.