"The Champs-Élysées is a symbol of world class luxury. This property is located in the epicenter of Paris' premier shopping destination and attracts the top retail brands from around the world," said Joe Sitt, CEO of Thor Equities. "Demand for great spaces in the fashion capital is always at a premium, making this building one of the most sought after in the city. The European market presents a great opportunity as we expand our global portfolio and the opportunity to acquire a property of this stature is a significant achievement."
The management team of Harel Insurance and Finance Group is equally excited about acquiring this grandiose real estate, known as one of the world’s most famous destinations for all-things luxury. "Demand for high-street retail in Paris continues to rise and shows no signs of abating, and within Paris, there is no more marquis [of] an address than the Champs-Elysees," said Gadi Ben Haim, head of real estate investments at the Harel Insurance and Finance Group.