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The Hotels and Hospitality Group of JLL were appointed by the Société Foncière Lyonnaise (SFL) as exclusive advisor to market the asset situated on the prestigious rue Saint-Honoré. This truly unique opportunity to acquire prime real estate in Paris’ Golden Triangle included the ultra-luxury 5-star Mandarin Oriental Paris as well as 2 upscale boutiques branded Ports 1961 and DSquared2.
The refashioned and sophistically designed property was available freehold under long-term commercial leases. The sale represents an outstanding conclusion to the joint effort of the Hotels and Hospitality team and the Capital Market Retail team who have marketed the opportunity to a targeted, international audience from both the hotel and retail world. The process resulted in generating 4 formal offers to the seller’s satisfaction.
The property was sold for 290 million Euro to the hotel operator in tenancy, Mandarin Oriental Hotel Group, which exercised its preemption right to seize full ownership of the building.
Closed in February 2013, this transaction is the 3rd largest single-asset hotel transaction in EMEA since 2010.