LBO France has denied that the buyer of the historic Lido asset at 116 bis Champs Elyse麓es in Paris is the investment management arm of DTZ, on behalf of the Qatari sovereign wealth fund.
LBO France has denied that the buyer of the historic Lido asset at 116 bis Champs Elyse麓es in Paris is the investment management arm of DTZ, on behalf of the Qatari sovereign wealth fund.
In a statement, the private equity house said the property was sold to an unnamed private investor in an off-market transaction. Financial details were not disclosed. However, the deal is estimated to be in the three-digit figures.
Developed in 1931, the art de麓co scheme comprises the Lido site, the famous French cabaret, an UGC cinema over 10,000 m2 as well as 5,000 m2 of offices recently redeveloped by Sodearif.
The vendor was advised by Etude Monassier et Associ茅s and law firm Wragge & Co on the deal.
