Abenex announces the acquisition of a real estate complex in the 11th arrondissement of Paris

Abenex ‘s value-add Real Estate funds acquire an asset located at 37-39 rue Saint-Sébastien and 28-36 passage Saint-Sébastien, in the 11th arrondissement of Paris.   The asset is located within a mixed residential and commercial environment, in an increasingly attractive area that is undergoing a complete transformation, characterized by a large number of educational businesses and restaurants. The property benefits from excellent public transport connections, as a result of its proximity to metro lines 5, 8 and 9.   This building is currently used as offices and is classified as “ERP 3” (i.e. having the ability to host up to 550 people). It has a total floor area of more than 2,300 m², mainly spread over a single level. In line with its value-add strategy and sustainability approach, Abenex (B-Corp certified and purpose-driven company) aims to significantly improve the asset's energy and environmental performance through renovation.   “In an opportunistic market full, the renewed confidence of our partner banks and our investors, who share our convictions about the resilience of Parisian real estate, is enabling us to intensify our strategy of acquiring value-creating assets” comments Vincent Brunswick, Partner of Abenex REIM (real estate activities).   Abenex REIM is delighted with the support and trust shown in this transaction by a select group of qualified investors, including LC PROMO, the property investment subsidiary of Caisse d'Epargne Loire Centre, and Banque Wormser, among others.   Transaction counsels:   Abenex was advised by C&C Notaires, Archers (lawyers) and financed by Caisse d'Epargne Île-de-France. The seller was advised by Trocadéro Notaires and Cushman&Wakefield, in co-exclusivity with Knight Frank (brokers).