Thor Equities has partnered with Meyer Bergman and Harel Financial Services to acquire 65-67 Avenue des Champs-Élysées, a multi-use building in Paris, housing top-tier retail, office and residential space.
The nearly 110,000 s/fot building features street-facing retail units, as well as upper-level offices and residential units in the rear.
Its historic stone façade and two interior courtyards add a level of charm and character that are unmatched, said Thor Equities in a statement.
The building is currently fully leased to brands including Nike, Tommy Hilfiger, Puig and Pagerex. “The Champs- Élysées is a symbol of world class luxury. This property is located in the epicenter of Paris’ premier shopping destination and attracts the top retail brands from around the world,” said Thor Equities’ chief executive officer Joe Sitt.
“Demand for great spaces in the fashion capital is always at a premium making this building one of the most sought after in the city. The European market presents a great opportunity as we expand our global portfolio and the opportunity to acquire a property of this stature is a significant achievement.”
It is a milestone acquisition for Thor as the company continues to invest in the European market.
Paris remains among the most internationally renowned retail destinations attracting tens of millions of tourists every year, helping to make the Champs-Élysées the premier address for the world’s top brands.
Thor purchased its first two French parcels last year, including an office in the heart of Paris and the luxury retail hub of Cannes, located at 65 Croisette.
Those acquisitions came on the heels of the company’s acquisition of the Burlington Arcade in 2010.