Le mie ricette per la real estate communityBMO Real Estate Partners , part of Canada’s BMO Financial Group’s £189 billion[1] Global Asset Management business, announces that it has completed the acquisition of the famous Fontaine Gaillon restaurant in Paris from French actor Gerard Depardieu on behalf of its pan-European retail property investment fund.
As part of the transaction, the restaurant has been vacated by its occupier and BMO REP has separately secured a new 10-year commercial lease with Moma Group who will develop a new concept in the premises. Moma Group is one of Paris’ most prestigious restaurant groups, renowned for its excellence in both gastronomy and atmosphere with a reputation for working with the most celebrated chefs and interior decorators.
The property boasts a prime location next to the famous Opéra Garnier in the 2nd arrondisement, right in the heart of Paris’ popular luxury retailing and tourist destinations as well as benefitting from a high demand for business events due to the many prime offices nearby.
Adrien Brion, Director, Head of Operations in Paris at BMO Real Estate Partners said: “This off-market acquisition further diversifies the income profile of the Fund alongside Luxury, Premium and Mass-Market high-street retail assets, and will allow us to take advantage of the attractive pricing and strong rental growth prospects available to be captured in Paris’ Food & Beverage retail segment.”
Source :
BMO Global Asset Management
[1] Assets Under Management (AUM) reported is as at 31.12.2018 and includes both discretionary and non-discretionary assets.
