22 September 2023
MIMCO AM will take part in the redevelopment of the building at 150 Champs-Élysées Paris

Groupama is selling the iconic building at 150 Avenue des Champs-Élysées to Cheval Paris, an investment fund managed by MIMCO Asset Management.

MIMCO Asset Management will act as the fund's manager, but also as Asset Manager. Located just a stone's throw from the Arc de Triomphe, on the upper part of the avenue, this asset with a current surface area of 18,000 sq.m., will be restructured while preserving its identity and history.

The project currently has a building permit to accommodate a 5-star hotel and commercial cells.

With the management of the Cheval Paris Fund, the MIMCO Group's assets under management now exceed 1.2 billion euros, symbolizing its exponential growth in France and Europe.

"We are flattered by the confidence of the fund's investors. We are very pleased to be involved in the development of this historic building. Our expertise as a real estate operator has been acclaimed on this project, which demonstrates an appreciation of our know-how on complex and large-scale assets", explains Ara Adjennian, Managing Director and Partner of MIMCO AM.​

Christophe Nadal, co-founder and President of MIMCO AM, comments: "Our French subsidiary has been growing strongly since its creation. By offering high-level investment vehicles and management, we meet the requirements of high-level investors. Our agile and transparent long-term vision, coupled with the expertise of our teams, has enabled us to establish ourselves in the European asset management and fund management landscape

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