AEW acquires luxury retail asset on 384 Saint Honore Street in Paris (FR)

AEW has acquired a luxury store on 384 Saint Honore Street in Paris on behalf of FONDIS, a fund focused on acquiring and managing retail assets across France, from a private seller. Located on one of Paris’ premier high-end retail destinations at the corner of Duphot Street, the building is fully let to luxury brand Christian Dior Couture. The asset is also in close proximity to the Louvre, the Seine and the Opera district of Paris. The purchase price was not disclosed.

Stephane Sebban, Fund manager of FONDIS for AEW, commented: “This acquisition is aligned with FONDIS’s strategy of investing in high-quality retail assets in strong high footfall retail locations and demonstrates our team’s ability to source the best opportunities for our clients. This acquisition brings the fund’s total portfolio to €600m with a remaining investment capacity of €200m, as we continue to pursue an active pipeline of potential investments.”