International investment firm Global Gate Capital has acquired an iconic residential building in the 17th arrondissement of Paris.
The Haussmann-style property, built in the 1920s, covers approximately 5,000 square meters. It stands at the intersection of Meissonier, Prony, and Cardinet streets.
The acquisition marks Global Gate’s third residential transaction in Paris over the past 18 months.
Rudy Sayegh, Chief Executive Officer of Global Gate Capital, says, “This acquisition reflects our strategy to secure high-quality assets in strategic locations, continuing our pursuit of sustainable value creation for our investors. We remain focused on opportunities that leverage our expertise in repositioning assets to meet today’s standards.”
Florent Jeanneau, Head of French Real Estate at Global Gate Capital, says, “We are delighted with the acquisition of this iconic building. Our goal is to enhance its value while respecting its historical character, and we see great potential for value creation in the Paris market.”
With offices in London, Geneva, New York and Dubai, Global Gate has grown its assets under management to over $5 billion since being founded in 2013.
The image is a stock picture of a Boulevard Haussmann property from Wikimedia by Thomon and is reproduced under CreativeCommons.
