MIMCO and Foncière Renaissance have announced the acquisition of the property located at 48 Rue Notre-Dame-des-Victoires, the former headquarters of the Banque de France, in Paris’s 2nd arrondissement, for €90 million. Facing the Palais Brongniart, in the very heart of the Opéra Central Business District (CBD), this iconic asset is set to undergo a premium refurbishment to meet the highest standards of today’s office occupiers.
A prime location in the heart of the Opéra CBD
Situated at the intersection of Rue Montmartre, Rue Brongniart, and Rue Notre-Dame-des-Victoires, the building enjoys a strategic location in one of the most sought-after districts in Paris. The Opéra CBD is characterized by extremely low vacancy rates, especially for newly built or comprehensively redeveloped prime-grade assets. It benefits from proximity to major business hubs, corporate headquarters, prestigious law firms, luxury houses, as well as cultural landmarks such as the Opéra Garnier, Palais Brongniart, and the Louvre Museum.
A high-end repositioning of an architecturally and commercially promising asset
The building comprises a total floor area of 7,417 sqm across seven levels, arranged around a central courtyard. Its corner configuration offers strong visibility and open views over Paris. To align with modern workplace expectations, the asset will be entirely reimagined to deliver a new occupier experience, combining user comfort, contemporary design, and high environmental performance.
The project, led by MIMCO and Foncière Renaissance, entails a full-scale redevelopment, integrating modern comfort features and optimized spatial layouts, while preserving the exceptional character of the existing structure. The repositioned asset will be dedicated to next-generation office space. A building permit was submitted prior to the acquisition, enabling specific works on the courtyard and basement levels.
While the building is designed to accommodate a single tenant, its triple frontage and independent access points make it easily divisible for multi-tenant use.
Following the acquisition of the asset and completion of administrative procedures, construction works are scheduled to begin in July 2025, with delivery expected in September 2027.
Following completion and tenant take-up, MIMCO and Foncière Renaissance plan to exit via a block sale to an institutional investor, targeting long-term ownership under a “Core” strategy, focusing on “Ultra Prime” Parisian assets
MIMCO and Foncière Renaissance were advised by R&D Notaires (Julien Rémusat, Géraldine Bonneau, David Sussmann), RC Capital (Halim Hamimida), Van Campen Liem (Christophe Balthazard, Jean Gaspard, Gabriel Amar), Dantes Law (Thibault Stumm), Fairway (David Franco, Aubry d’Argenlieu, Fanny Roiena, Aurélien Fradet), Cabinet Racine (Fabrice Rymarz, Charles-Xavier Vincenti), Deutsche Bank, Sarment.
