As part of its investment strategy focused on office properties and the conversion of tertiary assets, Raise REIM, the property branch of group Raise, has recently acquired a hotel asset in the 19th arrondissement of Paris (La Villette).

This complex includes a Holiday Inn Express with 144 rooms, a youth hostel with 350 beds and a La Criee restaurant with a seating capacity of 200. In operation since 2008, the establishment is the leading yield generator for Raise REIM.

The Gide team advising Raise REIM comprised partner Frederic Nouel with associates Charlotte Bennett and Clemence Viaud on real estate aspects, and partner Laurent Modave on tax aspects. Raise REIM was also assisted by Victor de Verthamon from notarial firm Cheuvreux Notaires.

The seller, Gecina, was advised by Clifford Chance and notarial firm Wargny Katz.