Global Gate Capital and Black Swan Real Estate Capital, have completed the acquisition of a building located on Rue Drouot, in the 9th arrondissement of Paris. This mixed-use building, with a total area of approximately 1,500m², is spread over seven floors and revolves around an interior courtyard. Representative of Parisian architecture of the mid-19th century, it was later extended in 1927 and is partially vacant.
Rouzbeh Badi Arez, Partner at Black Swan Real Estate Capital, expressed his satisfaction with this first acquisition in partnership with Global Gate Capital saying: "We are delighted to partner with Global Gate Capital. The exceptional location and the resilience of the residential market make it a very attractive asset in the current economic landscape and real estate market."
Rudy Sayegh, CEO of Global Gate Capital commented: “Our mission is to continually uncover unique opportunities that create long term value for our investors. This transaction, in partnership with Black Swan Real Estate Capital, exemplifies that focus and demonstrates our agility in acquiring prime off-market assets.”
Florent Jeanneau, Head of French Real Estate at Global Gate Capital added: “We are delighted with the acquisition of this historic building in the heart of Paris and intend to enhance this it by restoring it to its original elegance. We are actively looking for the right opportunities to expand our residential portfolio in Paris, as it is our belief that the Parisian residential market offers resilience, great value creation and capital appreciation opportunities.”