PURetail Fund Invests in Paris
The Pan-European Urban Retail (PURetail) Fund, which is sponsored by a joint venture between Cushman & Wakefield Investors and Scottish Widows Investment Partnership, has acquired a mixed-use property in Paris for approximately €25 million.
The asset, 8–12 rue d’Amsterdam, comprises 2,600 square metres of retail and office space located in the Haussmann-Opéra area, facing the Cour du Havre, the square in front of the main entrance to the Gare Saint-Lazare railway station. The retail portion is 100 percent let to La Grande Récré, a toy store, and France Telecom/Orange, while the office portion is fully let to 118 218, a French telephone directory service provider.
“This asset, which was sourced by our local French team, offers the potential to add value through active asset management initiatives