Gide advises the Régie Immobilière de la Ville de Paris on the acquisition of the company owning the Concordia residence in Paris’s 5th arrondissement

Gide has advised the Régie Immobilière de la Ville de Paris (RIVP) on the acquisition of 100% of the share capital of Société Immobilière de la Rue Tournefort, the company owning the real estate complex located at 39 and 41 rue Tournefort in Paris’s 5th arrondissement.

The building is a former university residence dating back to the early 20th century, located in the heart of the Panthéon and Montagne Sainte-Geneviève neighbourhood. Inspired by the colleges of Oxford and Cambridge, it was founded by American Protestants around 1910 under the name “Pension Concordia”. Following renovation works, RIVP intends to restore the property’s original purpose by creating social student housing on the upper floors. The ground floor will be converted into commercial and activity spaces.

The Gide team comprised partner Antoine Lelong, associates Manon Garoui and Mathilde Gaudin Douady, on transactional and corporate aspects; partner Olivier Dauchez, counsel Sacha Najafi, and associate Gabriel Macé, on tax aspects; and partner Etienne Chesneau and associate Louise Boyer, on real estate aspects. RIVP was also advised by Monceau Notaires.