Cheyne Capital has provided a €288.6 million senior loan to support the acquisition and repositioning of 91 Avenue des Champs-Élysées, a prime mixed-use asset in Paris.
The property has been acquired by a joint venture between MIMCO and Foncière Renaissance, two real estate investors with a growing presence in central Paris. In addition to the purchase of this office and retail asset, Cheyne Capital’s financing will support the sponsors’ plans to reposition the asset to prime market standards.
The plans include reconfiguring the space to better meet demand from global flagship retail occupiers and premium office tenants. Upon completion, the building is expected to achieve leading environmental, social and governance (ESG) certifications.
“This transaction represents a rare opportunity to finance the repositioning of a landmark asset in one of the world’s most sought-after retail and business destinations. We are pleased to support MIMCO and Fonciè
