Independent underwriting, off-market origination, and transaction advisory connecting international private capital with Paris commercial real estate -offices, retail, logistics, and hospitality- for family offices, institutional allocators, and private investors.
Underwriting, due diligence, and deal structuring for capital seeking access to Paris CRE (offices, retail, logistics, and hospitality), intra-muros and Île-de-France, including off-market origination other buyers see only once it's too late.
Primary-source signals (loan maturities, ownership stress, regulatory pressure) surfaced before they reach the broader market. For buyers who want to see deals others don't.
For owners of Paris CRE assets above €5M (including situations under refinancing pressure) seeking a structured, discreet process toward international private capital: positioning, financial narrative, and buyer targeting.
Every signal has been reconstructed by hand. The same process sources our off-market deals. Request a full reconstruction for any Paris asset.
View the dashboard →The analysis behind the dashboard: mispricing, hidden leverage, and the debt walls driving the next wave of distressed disposals across Paris CRE.
The developer received €59.3M at delivery. The funds that bought the tower now hold it marked down by 2/3.
October 12, 2026
The mathematics of new construction have broken down. It is an equation problem, good thing I like maths.
September 28, 2026
"Only when the tide goes out do you discover who's been swimming naked". In Paris CRE, the tide went out in 2022.
September 14, 2026
The US market took the pain and moved on. France deferred it into illiquidity.
August 31, 2026
A 60% LTV on a La Défense office looks conservative. On economic value, it is above 150%.
August 17, 2026
Published cap rates don't account for rent incentives. The economic cap rate does.
August 3, 2026
The official vacancy rate is 11%. On the stock that matters to investors, it's closer to 22%.
July 20, 2026
A 150bps rate shock should have repriced the market 30–35%. Almost nobody sold.
July 6, 2026
Headline rents are rising. Effective rents are not.
June 23, 2026
International investors apply a Frankfurt discount to a fundamentally different credit landscape.
June 8, 2026