Article posted on : 08/09/2022
Société de la Tour Eiffel acquires a building complex from Artbridge Investments in the 9th arrondissement of Paris
Société de la Tour Eiffel announces the acquisition from Artbridge Investments of a prestigious building in the heart of the central business district of Paris. The dressed stone building has two addresses (20, rue de Provence and 20, rue Chauchat) and boasts a prime position in the 9th arrondissement, between boulevard Haussmann and rue La Fayette. This location is renowned for its dynamism and varied mix of tenants, from international company HQs to restaurants, shops, and amenities as well as tourism destinations.
Alain Lellouche, President of Artbridge Investments, commented: “We acquired this building with the aim of remodelling it and restoring its original style. The fully self-contained building, with almost 1,000 sqm of office space, was leased to Graitec Innovation, a global leader in digital transformation for the construction sector via BIM solutions, under a 9-year commercial lease with a minimum 6-year term, for its flagship Paris headquarters”.
“This transaction represents Société de la Tour Eiffel’s first steps towards of unfolding the new strategy. This acquisition in a prime Paris location is an opportunity for us that will be profitable from day one thanks to the Graitec lease. Our expert real estate teams are constantly on the lookout for market opportunities that can effectively transform our portfolio in line with our roadmap”, added Christel Zordan, Chief Executive Officer of Société de la Tour Eiffel.
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