SCBSM bolsters Parisian portfolio to over €550m

Parisian real estate company SCBSM has acquired the historic "Saint Frères" building, located at 34-36 Rue du Louvre and 112 Rue Saint-Honoré.

Paris

The sellers were French asset manager Amundi Immobilier and CARMF (Caisse Autonome de Retraite des Médecins de France).

This acquisition boosts SCBSM's prime Parisian asset portfolio to a valuation exceeding €550 mln.

The mixed-use building, known for its iconic Eiffel-style architecture and historical significance as the former Saint Frères headquarters, offers approximately 8,200 m² of space ideal for modern corporate tenants.

In a notable historical parallel, SCBSM also owns the former headquarters of Boussac—the company that merged with Saint Frères a century ago—effectively reuniting the two legacies within a single portfolio.

SCBSM plans to restore the building by enhancing its historical character while improving energy efficiency to meet modern environmental standards.

This acquisition significantly increases SCBSM's portfolio value by over 20% and boosts annual rental income to more than €25 mln. The deal, partly financed by a €78.5 mln bank loan, maintains SCBSM's conservative financial strategy.

This acquisition is a key step in SCBSM's long-term goal of becoming a "pure Parisian real estate company." Following this deal, nearly 95% of its assets are now concentrated in the Paris Central Business District.