Oxford Makes A Paris Play
Oxford Properties Group has acquired 32 rue Blanche from The Carlyle Group for $339M, marking Toronto-based Oxford's first foray into France and continental Europe. The property, with 237k SF of space in the 9th arrondissement, part of Paris’ historic financial district and the city’s new digital CBD, is fully leased, with tenants including Criteo, Mutuelle Interiale, and BlaBlaCar. Redeveloped by The Carlyle Group in 2012, the building has a restaurant, roof terrace, and cool reflective ornamental feature hanging in its atrium (pictured above), which aids in daylight harvesting. Paris’ long-term supply constraints (height restrictions and strict planning rules) make the market attractive for investment, the company says. Oxford’s Michel Vaulcair notes the firm plans to grow its assets under management in Paris to over $1.2B in the next five years.
