CBRE Global Investors acquired luxury fashion retailer Roberto Cavalli flagship store in Paris. The transaction was a sale and leaseback. Located at the corner of rue Saint Honoré and rue Cambon, the nine-story property offers 1,760 sqm of space. CBRE Global Investors was advised by Allez & Associés and Linklaters. The vendor was advised by BNP Paribas Real Estate. The acquisition was partly financed by Natixis and DekaBank Frankfurt. The price was not disclosed.
“This was a rare opportunity to secure such a prominent property let to an established luxury brand. This property sits in the heart of the Paris luxury retail district which means it is one of the finest retail locations in the world. It provides a strong income and with rents forecasted to continue to grow in Paris, we see major potential over our planned long-term hold,” said John Mulqueen, head of EMEA transactions at CBRE Global Investors.
