French privately held real estate developer-investor Herrmann Brothers has acquired a mixed-use building at Rue de Bretagne in Le Marais district of Paris.

French privately held real estate developer-investor Herrmann Brothers has acquired a mixed-use building at Rue de Bretagne in Le Marais district of Paris.

The vendor was a private family.

The building is composed of 15 luxury apartments, 27 private parking lots and street-facing retail units.

Financial details were not disclosed. However, the price is understood to be over €10 mln, with the acquisition being financed by Bred, part of French financial group BPCE.

'The property is located in one of the most dynamic and trendy areas of the city. We see great potential in this mixed-use asset that not only offers good income but also a great upside through our future active asset management,' commented managing director Thierry Herrmann.

Jones Lang LaSalle advised the vendor on the deal.