Gulf Islamic Investments announces €250 Million acquisition of state-of-the-art office towers in Paris

-The acquisition places Gulf Islamic Investments on track to achieving a total AUM of $3 billion by end of 2021 

-Gulf Islamic Investments is rapidly expanding real estate investments across Europe - with forthcoming projects in the UK, France and Germany - while steadily diversifying across asset classes and geographies with new investments in healthcare, logistics and technology slated for Q2 2021. 

PARIS, FRANCE | Gulf Islamic Investments (GII), a leading Shari’ah-compliant global financial services firm, today announced it has acquired Altaïs Towers, a fully restructured commercial property in East Paris, for approximately $300 million. The property was sold by a consortium including Arpent Capital, Maple Knoll Capital and funds managed by Oaktree Capital Management, L.P. The deal marks GII’s first acquisition in Paris and the firm’s largest real-estate acquisition to date, bringing the value of its total investments in Europe (including the UK) to nearly $800 million.

His Excellency Mohammed Rashed Alnasri, Chairman of GII said: “The acquisition of Altaïs Towers is a landmark transaction that reflects GII’s vigilant and visionary approach in sourcing and developing outstanding investment opportunities in some of the world’s most attractive and liquid realty markets. We are delighted to have capitalized on this compelling opportunity to expand our European real estate portfolio and continue to build on the GII success story.”

Mohammed Alhassan, Founding Partner and Co-CEO of Gulf Islamic Investments commented: “Altaïs Towers is an exciting marker in GII’s growth trajectory, as we head towards achieving a total AUM of $3 billion by the end of 2021. This acquisition highlights our deep and diversified global experience as we expand into new geographies and execute transactions of this scale and complexity, especially amidst the challenges presented by the Covid-19 pandemic.”

Pankaj Gupta, Founding Partner and Co-CEO of Gulf Islamic Investments added: “GII’s ethos is to serve as a partner for growth. The Altaïs Towers acquisition is a capstone achievement in our over 7 year history of investing in Europe and consistent with our long-term real estate investment strategy of acquiring high-quality assets in major cities. GII is uniquely positioned to originate premium investment opportunities that deliver superior value to our shareholders and investors and ensure our tenants benefit from a strong value proposition.”

Strategically located in the eastern Parisian suburb of Montreuil, Altaïs Towers comprises two buildings, 28 storeys and 16 storeys respectively, totaling 37,500 square meters in lettable area. The property is directly accessible via metro, 7 minutes away from the Peripherique (Paris Ring Road) and less than 25 minutes away from both major Parisian airports. Altaïs Towers is currently 99 percent leased on an average lease term of 12 years to a prestigious tenant roster including Air France’s commercial Head Office for domestic operations and various government tenants, the latter occupying 62 percent of the property. GII has appointed L'Etoile Properties as local property manager through its global real estate team.

Altaïs Towers recently underwent a major redevelopment to the highest standards ensuring its long-term sustainability and aesthetic appeal, while also catering to the modern-day commercial office preferences of an increasingly younger workforce. In addition, it exemplifies the highest levels of energy and environmental performance securing the Haute Qualité Environnementale (HQE) certification with a rating of “Exceptional” and the Leadership in Energy and Environmental Design (LEED) Gold certification, among others.

GII is rapidly diversifying across asset classes and geographies. The firm is finalizing its second India-focused investment portfolio - the India Growth Portfolio II - which will be launched by Q2 2021 and will encompass multi-sector investment opportunities, with a projected value of over USD$50M. This year, the firm also expects to conclude a realty transaction in the senior care space in Germany, making inroads in the country’s growing elderly care market estimated to be worth approximately $80 billion by 2025.

For more information on Gulf Islamic Investments, please visit www.gii.ae  

For high-resolution images of Altaïs Towers, GII leadership and logos, please see: https://bit.ly/37KnQtf

For media enquiries, please contact Natasha D’Souza at communications@gii.ae 

About Gulf Islamic Investments

Gulf Islamic Investments LLC (GII) is one of the world’s leading Shari’ah-compliant financial services firms. With nearly $2 billion of assets under management, GII seeks to create superior returns and long-term value on behalf of its investors, shareholders, portfolio companies and the communities in which it invests. Under the leadership of a committed group of prominent shareholders and investors, GII deploys private capital across a diverse set of business segments including real estate, private equity, venture capital. GII’s client network includes UHNWIs, family offices, banks, institutions, and sovereign wealth funds in the GCC and Asia. GII is based in the United Arab Emirates and is regulated by the Securities and Commodities Authority (SCA).

© Press Release 2021