- Press release - Press release
On 26 February, Colonial SFL and Hines confirmed the sale of 83 Marceau. This emblematic 9,700 sq. m. building, remarkably located at the foot of the Arc de Triomphe, 100 % occupied, is notably the French headquarters of Goldman Sachs.
This transaction is one of the most significant in the Paris office investment market in recent years, in a particularly tight market context characterised in recent months by a high degree of selectivity. The transaction was completed at a net selling price of €242.5 million.
The property, acquired by SFL in 2001 and 2007, underwent a major overhaul between 2019 and 2021 by architect Dominique Perrault, with Ana Moussinet designing the service areas. Its redesigned facade, landscaped interior garden, optimised floor plates, newly created service areas bathed in light, exemplary environmental performance, and exclusive location with its terrace offering an exceptional view of the Arc de Triomphe, give 83 Marceau an undisputed premium character, which enabled it to be pre-marketed in 2020 at a record rent of €940 per square metre.
«With this transaction, Colonial SFL has once again demonstrated the relevance of its business model, which aims to redevelop and manage the highest quality buildings in the best locations in Paris. Popular with the most demanding companies, these assets are among the most liquid on the investment market. In a financially constrained environment, rotating our value-creating assets is fully in line with our strategy, giving us additional resources to seize market opportunities by focusing on core + or value add properties with excellent real estate fundamentals,» says Aude Grant, Chief Executive Officer of SFL.
«This sale illustrates Colonial SFL's ability to carry out targeted and opportunistic arbitrages on high-quality assets, while confirming the attractiveness of the Paris market for leading international investors in these exceptional assets,» says Alexia Abtan, SFL's Director of Investments and Corporate Communications.
Colonial SFL was advised in this transaction by Thibierge (Jacques-Laurent Renucci), while Hines was advised by Strat and Corp, Lasaygues, Lacourte Raquin & Associés and de Pardieu Brocas Maffei.
Photo © Thierry Lewenberg-Sturm
