Having already acquired a portfolio of four buildings in Paris at the end of the year, Redman is back at it again at the beginning of the year with the purchase of an urban wasteland at 82 rue de Meaux, in the 19th arrondissement of Paris, Business Immo has learned. Once again, the transaction has been completed on behalf of its joint venture with Omnes Capital, dedicated to assets to be redeveloped, and signed with the Swedish real estate company Akelius.
Located a stone's throw from the Buttes-Chaumont, the former residential building will be transformed by the developer, through its Altev by Redman brand, into a residential program of 17 apartments ranging from T2 to T4, complemented by a ground-floor shop. Designed by Delphine Thiant Architecture, the project is due for delivery in 2027.
"This rue de Meaux project illustrates our ability to design buildings that will span generations, responding to the real needs of the local area", commented Adrien Long and Anne-Laure Camilotto, respectively Managing Director and Investment Director of Altev. Thanks to our tailor-made approach, we are contributing to the sustainable transformation of eastern Paris, in the image of our achievements such as 60B Iéna or 206 Lafayette, which won an Équerre d'Argent award at the end of 2024."
Matthias Navarro and Nicolas Ponson, co-founders of Redman, added: "This project is a further building block in our mission: to sustainably transform urban capital while supporting the social and environmental ambitions of cities. "
Like the four Paris assets acquired by Redman last December (11 rue du Faubourg-Saint-Denis (10th arrondissement); 19 rue de Tanger (19th arrondissement), ; 186 rue Saint-Denis (2nd arrondissement) and ; 6 rue Polonceau (18th arrondissement), the building is part of a portfolio of ten assets sold off by Akelius, under a marketing mandate led by Avison Young and JLL.
According to our information, coliving operator Cohabs also acquired one building in the portfolio, while a private investor bought three. These nine disposals would have enabled the seller to reap disposal revenues of around €22 million, with a 10th asset initially auctioned for €5 million having to be reintroduced to the market after the prospective buyer withdrew.