The Opéra portfolio comprises five Paris-area office buildings and one mixed-use building. Benson Elliot’s client, Bensell US Feeder, acquired a controlling interest in the portfolio in 2007, in joint venture with leading French asset management company Générale Continentale Investissements (“GCI”).
The flagship property in the portfolio is the well-known Opéra Italiens building in Paris’ 9th Arrondissement, once the headquarters of French daily Le Monde and today home to France’s Ministère de la Justice. Other Paris properties are situated in the 8th , 13th and 16th Arrondissements. The portfolio also includes two office buildings in the popular western suburb of Issy Les Moulineaux. Major tenants in the portfolio include the French state, Editis and Socotec.
Since acquisition the joint venture partners have increased occupancy of the portfolio, by signing new leases or renewing leases. In addition, two properties have been successfully exited.