Cheyne Capital has provided €288.6m in financing to support MIMCO and Foncière Renaissance’s acquisition of the 91 Avenue des Champs-Élysées mixed-use asset in France’s capital.
The global alternative investment manager said it has provided the senior loan to support the acquisition and repositioning of the prime mixed-use asset in Paris.
Raphael Smadja, co-head of Europe in Cheyne Capital’s real estate group, said: “This transaction represents a rare opportunity to finance the repositioning of a landmark asset in one of the world’s most sought-after retail and business destinations.
“We are pleased to support MIMCO and Foncière Renaissance in executing a high-quality transformation that will set a new benchmark for prime mixed-use assets in Paris.”
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