Thor Equities has closed the acquisition of a prime retail location in the increasingly trendy Le Marais district of Paris for €15 mln.
Located on the corner of Rue de Sainte Croix de la Bretonnerie, the asset at 32 Rue des Archives is situated in the heart of the historic Le Marais area.
Currently leased to financial group Société Générale, the property features 440 m2 of retail space spread over the ground and lower levels.
'32 Rue des Archives is ideally located on one of the most highly trafficked street corners in Le Marais, which has increasingly become known as a premier shopping destination for both tourists and local residents,' said Joseph Sitt, CEO of Thor Equities.
Recent additions to the immediate area include John Galliano, Sandro and The Kooples, with Moncler, Gucci, Maje, Givenchy, Fendi and Valentino also opening retail stores along the street.
A new Eataly store totaling over 2,600 m2 will further enhance Le Marais as a prime retail and entertainment destination, according to Thor Equities, a global urban real estate development, leasing and management specialist.
The acquisition of 32 Rue des Archives continues Thor Equities’ recent international expansion, and comes days after Thor and Chenavari Investment Managers reportedly sold 1 Dover Street in London to a Qatari investor for about €77 mln. The nightclub Mahiki is based in the Dover Street premises.
The company's European holdings include 11 Puerta del Sol and 16 Calle Fuencarral in Madrid, 26 Via della Spiga in Milan, 102 Ave. des Champs-Elysees and 51-53 Blvd. Haussmann in Paris, and 65 Blvd de la Croisette in Cannes.
Thor owns a number of properties in London including 145 Oxford Street, 105-109 Oxford Street, and Bond Street House at 14 Clifford Street, as well as Burlington Arcade.
