GDG Investissements secures €44m for new development in Paris
GDG Investissements has secured a Є44 million ($48 million) loan to fund the acquisition and refurbishment of a major new development in Central Paris.
The project will see the conversion of the existing property into a mixed-use building, comprising both space for a campus (70 percent of the development) and social student housing.
Located in the 6th Arrondissement, the site is next to the Jardin du Luxembourg and has excellent public transport links. The development will be refurbished with sustainability in mind to obtain HQE Excellent and RE 2020 certifications.
“This is a rare opportunity to deliver high-quality campus and social housing to Paris’s city center,” said Raphael Smadja of Cheyne Capital Real Estate. “We’re pleased to be supporting GDG Investissements on this initiative and believe their long-standing focus on implementation of business school campuses and excellent track-record in this sector make them an ideal partner for this proj