Goldman Bets on City Bounceback With Paris Real Estate Deal
- Its asset management unit has agreed to buy a Parisian block
- Rue Saint-Honoré in located in one of the toniest districts
277 Rue Saint-Honore in Paris
Source: Google Maps
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Goldman Sachs Group Inc. is betting that prime retail and office space in Europe’s top capitals still has a bright future.
The firm’s asset management unit has agreed to acquire a block in the French capital that it plans to transform into an upscale store, with office space above, according to Tavis Cannell, who is co-head of EMEA real estate. It’s the latest in a series of real estate bets the bank is making on the future of cities as the world begins its gradual recovery from the coronavirus pandemic.