The asset belonged to the Metrovacesa group which merged with Merlin Properties in September 2016 to form one of the main property groups in Spain. This was one of the Spanish group’s last two assets in France, following the group’s decision to withdraw from the French market.
The asset was built in 1930 and includes approximately 8,500 m² on seven floors. The entire building has been rented to Conforama since 2012. It is used by the chain as a flagship store for furniture, decoration, electrical appliances and mass-market electronics. The asset has a special permit to stay open until midnight and on Sundays under the Macron Law.
Edmond de Rothschild Corporate Finance acted as exclusive financial and property advisor to Metrovacesa in the sale of the asset.
Edmond de Rothschild Corporate Finance: Inès Reinmann-Toper (Member of the Board, Associate Director), Jonathan Jacquin (Director), and Aurélien Bouvier (Associate)