Paris-based Black Swan Real Estate Capital has announced the acquisition of its first Parisian asset, located near Place de la Bastille in the 12th district, from an unnamed French family office.
Financial details were not disclosed.
The building features a Parisian architectural style dating from the beginning of the 19th century and provides 2,500 m2 of usable office and retail space.
Black Swan, which is making the investment on behalf of one of its clients, plans to significantly redevelop the asset in order to bring it up to standard with the high environmental profile of the Parisian real estate market.
'We are delighted to make the group's first acquisition in France and more precisely in Paris. This transaction marks our interest in strategic Parisian locations and our focus regarding the dynamism of the eastern part of Paris,' commented Rouzbeh Badi Arez, partner at Black Swan Real Estate Capital.
