SFO Capital Partners and Braxton Asset Management acquire central Paris office building
London December 14, 2021 – London-based global real estate investment management company SFO Capital Partners, in partnership with Braxton Asset Management (“BAM”), has acquired a prominent office building on 20 Rue de la Victoire in the 9th arrondissement of Paris.
In line with SFO Capital Partners’ European value-add strategy, 20 Rue de la Victoire represents an opportunity to create value through the refurbishment and repositioning of a strategically located quality asset. In fact, SFO Capital Partners will be leveraging on its strong track record in Paris with the acquisition, repositioning and the recent sale of a prime office building located on 17 Avenue Hoche.
BAM’s institutional approach in delivering superior quality projects will be key for the partnership. With this transaction, BAM will be replicating its recent successful repositioning and sale of a prime office building located 11 Rue Beaurepaire.
The 2,500 sqm office building is located in the heart of the 9th arrondissement, benefiting from strong demand from both traditional corporate tenants, as well as new-economy and tech occupiers. The asset is conveniently situated next to major local and international transport hubs, famous department stores and historic monuments.
Mohamad Abouchalbak, CEO of SFO Capital Partners said: “The commercial market in central Paris has proven its resilience, with consistent demand for office space which, coupled with limited availability, has been driving rental growth for prime assets exceeding pre-covid levels. We are pleased to have acquired in partnership with BAM, 20 Rue de la Victoire, a commercial office building in a prime location, further demonstrating our ability to identify assets ripe for repositioning in highly competitive markets. This repositioning will also include environmentally friendly measures aligned with our firm’s long term goals towards carbon emission reduction.”
Charles Duclert, Managing Partner of Braxton Asset Management said: “We’re thrilled to get this first deal across the line together with SFO Capital Partners. BAM continues to stay focused on inner-Paris repositioning opportunities such as this one. This transaction represents a unique opportunity to get office exposure in a chronically undersupplied sub-market at an attractive pricing. This new project will allow Braxton’s teams to further showcase their ability to generate value through redevelopments and deliver high quality, modern space with great sustainability credentials.”
About SFO Capital Partners: SFO Capital Partners is a London-based global real estate investor and investment manager, committed to achieving superior risk-adjusted returns and focused on establishing and maintaining long-term relationships with its global clients and partners. SFO Capital Partners applies its global mindset, in-depth sector experience and local knowledge to unlock international real estate investment projects in Europe and the USA across a select range of investment strategies including income-generating, value-add and development schemes. As of December 2022, SFO Capital Partners has acquired a diversified portfolio comprising more than $2.1 billion in assets located primarily in the USA and Europe, including 7,000 apartments and more than 9 million square feet of commercial real estate under management.