Newmark Group announced on November 13, 2024, that it advised Unibail-Rodamco-Westfield (URW) in the €172.5 million sale of the 140,846-square-foot office portion of Les Ateliers Gaîté. This mixed-use property is located in the prominent Montparnasse district of Paris.
Newmark Deputy Chief Business Officer Emmanuel Frénot arranged the transaction between URW and buyers Swiss Life Asset Managers and Norges Bank Investment Management. The office space is leased long-term to coworking operator Wojo, establishing its Parisian flagship.
This transaction, occurring just months after Newmark opened its Paris office, highlights the firm's ongoing momentum and ability to execute significant deals in the European market. It confirms recovery signals in the office segment, suggesting increased activity for 2025.
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