Thor Equities Europe has closed on the sale of 54 Rue de Rennes and 32 Rue de Archives in Paris, company executives announced on Tuesday.
Although financial details were not disclosed, Thor said that it achieved 'strong profit' on the sale of the two prime retail assets.
'We continue to believe strongly in the Paris real estate market, particularly in prime retail and tourist destinations such as the Champs-Élysées and Boulevard Haussmann,' said Joseph Sitt, CEO of Thor Equities.
Located on the corner of Rue Bernard Palissy, 54 Rue de Rennes encompasses 270 m2 of retail space recently let to new textile brand From Future. 32 Rue de Archives is located on the corner of Rue de Sainte Croix de la Bretonnerie in the heart of Le Marais district. Currently let to Société Générale, the property includes 440 m2 of retail space spread over the ground and lower levels.
Thor owns properties throughout Europe including 30 Gran Via, 5 Puerta del Sol and 11 Puerta del Sol in Madrid; 26 Via della Spiga in Milan; 51-53 Blvd. Haussmann in Paris; and multiple assets in London including 151 Wardour St., 145 Oxford St., 105-109 Oxford St., 100 New Oxford St., and Bond Street House at 14 Clifford St.