05 Jun 2023

Tristan's TIPS One Debt Fund Finances Mixed-Use Asset in Paris

Source: Tristan Capital Partners Press Release

5 June, London: Tristan Capital Partners’ TIPS One "Income Plus" Real Estate Debt Fund has provided senior debt financing of up to €80m to GDG Investissements to finance an asset in the 5th arrondissement of Paris.

The debt finance will support refurbishment works of Hôtel Scipion that will see the property converted into an urban campus with education facilities in addition to both private and social student housing scheme across five floors. 

Located on rue Scipion, the asset occupies a prominent position in the heart of the education district of Paris and is in close proximity to many key teaching institutions including notable grandes écoles such as ESPCI Paris, les Mines and les Arts Déco and universities such as Normale Sup' rue d'Ulm, Panthéon-Sorbonne, Jussieu campus, Pierre et Marie Curie and Paris Lumières. 

Dan Pottorff, Head of Debt Investment at Tristan Capital Partners, said: “We are pleased to be supporting GDG in the delivery of a landmark educational campus at Hôtel Scipion, in a sector which has showed particular resilience in Paris in recent times.  In more volatile markets, we continue to support sponsors with demonstrable expertise in delivering exceptional quality assets in prime locations.”

Rémi Gaston-Dreyfus, Founder and President, GDG Investissements, added: “With the help of Tristan Capital Partners, we look forward to continuing to restore this magnificent project, including the first Renaissance style building in the capital. Our focus will be to retain the heritage of the scheme whilst utilising our expertise to enhance the ESG credentials.”

Tristan Capital Partners was advised by BCLP and GDG Investissements by Lacourte Raquin Tatar. Sagonne Capital acted as financing adviser to GDG.