Mayer Brown has advised leading private investment firm Bain Capital on a joint venture with Revcap, the European real estate investor, and in connection with the acquisition, financing and development of 29 – 33, Champs-Élysées by the joint venture, an iconic asset in the “Triangle d’Or” in central Paris and an art deco landmark. Black Swan Real Estate Capital have been appointed as the asset manager of the project.
The investment will support the redevelopment of the vacant asset into three flagship retail units and modern office space designed to meet long-term demand from global brands and corporate occupiers. The transaction has been described as “a once in a decade value add opportunity in Paris’ prime retail and office market.” Our work, combining advice on an English law joint venture with a Paris acquisition, and the related financing, is an emphatic demonstration of the cross-border, cross-practice capabilities we can deploy for private equity real estate clients.
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