Canadian investor BMO Real Estate has bought a property in Paris from the French actor, Gerard Depardieu, which houses a restaurant.
Financial details were not disclosed.
BMO purchased the Fontaine Gaillon restaurant for its pan-European retail property investment fund.
Located in Rue de la Michodière, the asset is in a prime location next to the famous Opéra Garnier in the second arrondisement, in an area famous for luxury shops and in close proximity to prime offices.
Under the terms of the deal, new occupier Moma Group - a gastronomic company - has signed a 10-year lease.
Adrien Brion, director and BMO's head of operations in Paris said: ‘This off-market acquisition further diversifies the income profile of the fund alongside luxury, premium and mass-market high-street retail assets, and will allow us to take advantage of the attractive pricing and strong rental growth prospects available to be captured in Paris’ food & beverage retail segment.’
BMO was advised in the transaction by Linklaters, Arsene and Lasaygues.
BMO has £6.2 bn assets under management across Europe.