PARIS, France, July 06, 2023 (GLOBE NEWSWIRE) -- Thor Equities Group, a global leader in urban real estate development, leasing and management, announced it has completed the rehabilitation and transformation of a former Société Générale branch into a new site for businesses at 6 Rue de Sèvres in Paris, France.
FRESH architecture and Dumez Company have completed the rehabilitation on the 1,200 square meter stand-alone historical building. This beautiful space is a unique flagship retail building that includes a private rooftop, and it is an emblematic landmark of the Croix Rouge neighborhood located in the heart of the sixth arrondissement of Paris.
“I am thrilled that the rehabilitation and modernization of 6 Rue de Sèvres in Paris is now complete and would like to thank FRESH and the Dumez Company for their dedication to this project,” said Chairman of Thor Equities Group Joe Sitt. “Traditional craftsmanship was used to repair the older elements of this beautiful and historic building. It is now the perfect location for a luxury retail brand to call home.”
Built in 1902 by architect Georges-Eugène Balleyguier, the building has been renovated three times - in 1958, 1972, and the 1980s-90s. Only the ornamental façade remained unchanged, however, the bell tower was removed and there is a captivating mural above the entrance that depicts the five continents.
The challenge of rehabilitating this banking heritage was to restore the façade, the four levels of flooring, and the old structural and material elements. In addition, preserving the old hall, the centerpiece of the building, required reimagining its function and use. Popular luxury retailers Hermes, Le Bon Marche, Berluti, Omega, Prada, Celine and Saint Laurent are all located near 6 Rue de Sèvres.
Thor Equities has been very active in the logistics sector globally, acquiring major portfolios in key US markets over the past few months and closing on the sale of a collection of prime industrial assets across Spain, France, and the Netherlands earlier this year. In the Spring of 2022, Thor launched its latest venture, Thor Formation, a division specializing on the acquisition and development of data centers across Europe with an equity commitment of up to US$3 billion and a goal of US$9 billion in acquisitions value.
###
About Thor Equities Group
Thor Equities is a leader in the development, leasing and management of office, industrial, laboratory, residential, hotel and mixed-use assets in premier urban locations worldwide. The company operates in major cities around the globe and has a property portfolio totaling $20 billion with a development pipeline in excess of 50 million square feet. Thor has a strong presence on three continents and in addition to its US holdings, the company has assets in European gateway cities including London, Paris, Madrid, and Milan, and is the largest developer in Mexico through its Latin American division with a development pipeline of over 18 million square feet. Thor maximizes returns for institutional investors by recognizing a property’s potential, reducing operating expenses, increasing tenant satisfaction, leveraging market trends to maintain a long-term competitive edge. For more information, visit www.thorequities.com.
