Just two years after acquiring the Pullman Paris Tour Eiffel hotel from Amundi Immobilier for €330 million, Morgan Stanley Real Estate Investing has sold it to a joint venture comprising Batipart Europe, CDC Investissement Immobilier, Société Générale Assurances, and QuinSpark.
According to information gathered by Business Immo, this group reportedly paid approximately €430 million, about $504 million, for the 435-room property.
To carry out the deal, Batipart Europe, through its hotel investment vehicle Anama, formed a joint investment group with CDC Investissement Immobilier, Société Générale Assurances, and QuinSpark, and will act as strategic asset manager. QuinSpark raised its stake and serves as operating partner. Operational management of the property remains with the Accor Group.
“We are delighted to carry out this transaction alongside our new partners, CDC Investissement Immobilier and Société Générale Assurances, and to partner with QuinSpark, pooling our real estate and hospitality expertise,” said Carole Faucher, managing director of hospitality at Batipart Europe.
“The acquisition of the Pullman Paris Tour Eiffel perfectly illustrates Batipart Europe’s strategy, which aims to develop ambitious, value-creating real estate and hotel projects in the heart of European cities,” added Ludovic Jacquot, chief executive of Batipart Europe.
Since its construction in 1966, first as the Hilton brand’s flagship in Paris, then under the Pullman banner since 2014, the hotel has established itself as a premier destination for a discerning international clientele, thanks to its exceptional location, they state in unison in a joint press release.
For them, this marks the “starting point” of an ambitious plan to transform the hotel. Thus, a major renovation program — part of which is already underway for the renovation of the façade and the improvement of energy efficiency — aims to support the hotel’s upgrade to a 5-star within 24 months.
This comprehensive renovation plan will cover the guest rooms, the lobby, the restaurant, as well as the seminar spaces and meeting rooms on the top floor. The creation of a wellness area is also being considered.
“In a challenging market environment, we were impressed by this property’s exceptional fundamentals and its potential for value creation within the framework of the ambitious transformation project being planned,” said Arnaud Taverne, chief executive of CDC Investissement Immobilier.
“This transaction is fully in line with our investment strategy, which aims to diversify our real estate portfolio while developing partnerships with leading investors and operating partners,” said Victoria Tuckwell, Head of Real Estate at Société Générale Assurances. “Given its exceptional location, this hotel offers both a solid foundation for performance and the opportunity to capitalize on significant value creation potential.”
“We are proud to remain a significant shareholder — alongside leading investors — of the Pullman Paris Tour Eiffel, which we have managed since 2024, and to lead the next phase of transformation for this exceptional hotel,” said Stéphane Obadia, co-founder of QuinSpark. These remarks were echoed by Frédéric de Brem, also a co-founder: “We are convinced of the property’s unique potential and are pleased to partner with Batipart Europe, with whom we share the same ambition, culture, and expertise.