MIMCO and Foncière Renaissance successfully complete the acquisition of the building located at 91 avenue des Champs-Élysées (Paris 8th), for a total amount of €320 million.
This marks the second acquisition completed by the joint venture in Paris’s Central Business District, confirming their ability to build a portfolio of ultra-prime assets at the heart of Paris.
Led jointly by Christophe Nadal, founder of MIMCO, and Éric Bendavid, founder of Foncière Renaissance, the transaction reflects the return of entrepreneurial investors to the most iconic assets of the Parisian market.
With 91 Champs-Élysées, MIMCO demonstrates its expertise on the world’s most famous avenue for the third time. In late 2024, Christophe Nadal and his teams signed the off-market acquisition of the 50 Champs-Élysées. In 2022, MIMCO structured, on behalf of the Cheval Paris fund — bringing together Brookfield AM and several family offices — the acquisition of 150 Champs-Élysées, which was resold one year later to LVMH for nearly €1 billion.
Foncière Renaissance further asserts its strategy on exceptional assets in the Parisian Triangle d’Or, in line with its previously acclaimed acquisition of 40 avenue George V.
Long the exclusive preserve of large institutional investors, prime institutional real estate and real estate private equity are gradually opening up to a wider circle of investors. MIMCO is among the European players driving this transformation: by structuring club deals, dedicated funds, and co-investment transactions, the group creates the conditions for selective, rigorous, and transparent access to deals that have historically been out of reach for private investors.
A rare asset in one of the world’s most prestigious locations
Spanning approximately 4,200 sqm, the building benefits from a prime location at 91 avenue des Champs-Élysées, one of Europe’s busiest commercial thoroughfares.
In a district characterised by a strong presence of major luxury houses, international retailers, and corporate headquarters, the asset stands out for its exceptional location.
Currently occupied by several tenants, the building also features vacant floor space, offering the prospect of reconfiguring the tenancy mix and repositioning the asset upmarket.
Foncière Renaissance and MIMCO intend to implement a strategy of adapting uses to new occupier expectations, combined with an architectural intervention aimed at repositioning the asset to prime market standards.
The objective is to transform the building into a benchmark institutional asset, meeting environmental requirements and the expectations of major international occupiers.
€410M already committed in the Paris CBD.
With this second joint acquisition, MIMCO and Foncière Renaissance bring the total volume of investments already committed together in the Paris CBD to approximately €410 million, following their first transaction at 48 rue Notre-Dame-des-Victoires in the 2nd arrondissement of Paris. Over €600 million in iconic assets are currently in the acquisition pipeline.
As the prime market continues to evolve, MIMCO and Foncière Renaissance are establishing themselves as operators capable of identifying and seizing the most complex opportunities in the Paris CBD.
MIMCO Group extends its thanks to its teams, partners, investors and advisors: R&D Notaires: Julien Remusat and Charline Freulon; Renaissance Capital : Halim Hamimida ; LAB Partners: Jean Gaspard and Hugo Cappadoro; Fairway: David Franco, Fanny Roeina, Aubry d’Argenlieu and Alison Ah Leung; Racine: Charles Xavier Vicenti; Deloitte: Hassen Ouartani and Vincent Robic; Gide: Louis Oudot de Dainville and Nora Chekhab; DANTES LAW: Thibault Stumm; Cheyne Ltd: Raphaël Smadja and Charles Lefèbvre; Zetland LLP: Mathieu Pinson; Depardieu: Yannick Le Gall; Wemagate Holdings advised by Bensaid Avocats: Jonathan Bensaid, Mickaël Gueviguian; Sarment: Walid Goudiard and Vincent Revault d’Allonnes; C&W — Amaury de Wazières; and more generally, all stakeholders who contributed in any way to the success of this transaction.
