Levallois, FranceRue Jean Jaurès
This property was a seven story office building constructed in 1993 with 4,141 sqm of space.
It is located in the town of Levallois, situated northwest of and adjacent to Paris.
The property was purchased by a TIGRE advised fund from an opportunity fund that had acquired the asset in a portfolio purchase.
Shortly, after the purchase by the TIGRE fund, the sole tenant (a software company occupying 79% of the building) went into bankruptcy.
TIGRE first redesigned the lobby and changed access to the building to make the building more attractive to multiple tenants. TIGRE then re-leased the building to 100% occupancy with seven tenants at an average per sq. mtr. rent 60% higher than the rent paid by the prior sole tenant. Soon, thereafter, the property was sold.
The building was purchased for 6,500,000 Euros with 75% of the purchase price provided by bank financing. The building was sold 24 months after the date of acquisition for a sales price of 11,900,000 Euros.
- Location: Levallois, France
- Project Type: Office Building
- Size: 4,141 sqm