BNP Paribas REIM has just acquired the landmark building "51-53 Boulevard Haussmann" in Paris. The propery in the Haussmann style enjoys a prestigious location opposite the Printemps and Galeries Lafayette department stores. The six entrances along the length of Boulevard Haussmann as well as Rue Auber and Rue Caumartin ensure outstanding visibility on the street that has the second-highest footfall in Paris after the Champs-Elysées. The company plans to redevelop this asset, which is currently vacant, in partnership with the architecture firm MOATTI RIVIERE. The purchase price was not disclosed.
“We are delighted to revisit an iconic building in the Haussmann district in this way, with the potential to develop it for a combination of uses, working to an ambitious schedule. We shall first seek to free the interior spaces from their pre-existing constraints so that we can design a retail showcase that is worthy of this jewel of the district, which is finding renewed favour among retailers and consumers,” said Guillaume Delattre, Chief Investment Officer of BNP Paribas REIM France.
