23 September 2023
MIMCO invests in the acquisition of a building at 82 Bd Sébastopol in Paris
Published
23/09/2023

As part of one of its club deals, the MIMCO group is participating, alongside the JHMH group, in the acquisition of an office and retail building located in the Réaumur-Sébastopol district of the 3rd arrondissement of Paris. The aim is to transform the premises into a 4* hotel residence for short/medium-term rental.


Located in Paris’ extended Central Business District, the trendy Réaumur-Sébastopol district attracts a wide public thanks to its dynamism and central location in Paris. The building, which is part of a mixed tertiary/residential cluster, has excellent public transport links, being right next to the Réaumur-Sébastopol metro line and one station from the Châtelet-les-Halles interchange, as well as numerous bus routes.


“The 3rd arrondissement of Paris is particularly appreciated for its unique lifestyle and exceptional cultural environment, with numerous museums, art galleries, shops, businesses and trendy venues. This privileged location makes it an ideal choice for the development of tourist residences, retail and office space, and allows its users to benefit from a dynamic trend,” says Christophe Nadal, co-founder of MIMCO Capital.


A mixed-use asset with strong potential for value creation


The MIMCO group has teamed up with the Parisian operating company Quartier Libre Collection, which will manage the residence, thanks to its know-how and contemporary concept.


With a floor area of 2,168 sq m, the Haussmann-style corner building comprises seven above-ground levels and two basement levels.


“The building offers very significant potential for value creation, with a building that enjoys excellent fundamentals, notably its exceptional location, i.e. a cultural environment as rich as it is diverse, easy access to the city’s main attractions and to public transport,” emphasizes Christophe Nadal.


"This project to convert the building into a 4* hotel residence is particularly attractive in an urban setting such as Paris."
Christophe Nadal

This acquisition consolidates the MIMCO Group’s pan-European presence and is a concrete example of its Value-Added strategy. The property complex will be rapidly upgraded and brought back into line with the expectations of short-term users and the market.


The property is scheduled to open for rental in 2024, before the start of the Olympic Games, which will undoubtedly be a turning point for short-term rentals in Paris.


The transaction was carried out through BNP Paribas Real Estate. MIMCO was advised in this transaction by Herbert Smith Freehills.


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