Invesco Real Estate has acquired an 850-square-meter (9,149-square-foot) trophy retail asset in Paris in an off-market transaction with a private vendor.
The building is solely let to Saint-Laurent.
EPPOF Capital, a high-street retail specialist fund management company, worked with Invesco on the transaction. Financial terms were not disclosed.
“Avenue Montaigne, a must have location for all the leading global luxury brands, has been our favorite investment target in Paris over the past few years,” said Giulio Rasetta, managing partner of EPPOF Capital. “The Saint Laurent flagship store, our fourth asset on Montaigne, is one of the most prominent boutiques in the avenue, with its excellent position and configuration as well as a first-class tenant.”
The property is located at 53, avenue Montaigne in Paris’s “Golden Triangle” luxury retail district and proves high visibility to the avenue. It is also close to more than 2,500 five-star hotel r
