Xavier Niel Purchases Iconic BHV Men's Building for €50 Million
Parijs, dinsdag, 24 juni 2025.
In a strategic real estate transaction, Xavier Niel, through his investment company NJJ Verrerie, has acquired the historic men’s building of BHV Marais. The purchase encompasses an 8,500 m² property on Rue de la Verrerie, near the central Rue de Rivoli in Paris. This transaction marks a significant shift in the Galeries Lafayette real estate portfolio, with the retail giant divesting a strategic property asset. The billionaire Niel is reportedly investing approximately €50 million in this acquisition, indicating his continued interest in Parisian commercial real estate and retail locations.
Strategic Real Estate Transaction
Xavier Niel’s acquisition of the historic BHV men’s building marks a significant shift in the Paris real estate market. The 8,500 m² property on Rue de la Verrerie, located near the central Rue de Rivoli, was acquired by Niel for a reported €50 million through his investment company NJJ Verrerie [1]. This transaction represents a strategic move for both Galeries Lafayette and Niel, further strengthening his position in Parisian commercial real estate [2].
Background of the Sale
Galeries Lafayette has been focusing on restructuring its real estate portfolio in recent periods. The sale of the BHV men’s building fits into this strategy, with the group repositioning itself in the retail and real estate market [3]. Xavier Niel, a well-known entrepreneur and investor, once again demonstrates his interest in strategic commercial property in the heart of Paris [4].
Financial Details
The purchase price of €50 million for 8,500 m² translates to approximately €5,882 per square metre, indicating the premium location in central Paris [1][2]. The transaction provides insight into the current valuation of commercial real estate in the capital [5].