Puteaux, FranceLe Luminis

This property consisted of an empty six-story office building with 5,770 sqm of space and two levels of underground parking.

It is located in the town of Puteaux, situated northwest of the city of Paris and about 1 km. southwest of La Defense, the largest office park in Europe.

The property was a 1970’s building that required redesign and complete renovation (floors, ceilings, bathrooms, elevators, air conditioning, heating, security system, glass facades, etc.).

The seller/developer worked with a TIGRE advised fund to complete the redesign and renovation. TIGRE managed the leasing of the renovated building and negotiated a long term lease with an international company. The building was then sold to a French institutional investor. 

The building was purchased for 17,800,000 Euros (fully renovated) with the purchase price paid in two installments: one at commencement and the second at completion.  70% of the funding of the purchase price was provided by bank financing.

The building was sold 27 months after the date of initial acquisition for a sales price of 27,150,000 Euros.

  • Location: Puteaux, France
  • Project Type: Office Building
  • Size: 5,770 sqm