Unusual series of rapid sales puzzles property professionals

Several properties in Paris and the inner suburbs have changed hands in less than ten days under circumstances that have puzzled professionals. A building in the 11th arrondissement, two flats in the 16th, a house in Neuilly and a former printing works in Montreuil were acquired by recently formed property companies. Several transactions were reportedly concluded without conventional bank loans and at prices slightly above valuation. Tenants have received notices for building work, and two shops have announced early closures. Taken separately, none of these cases is exceptional. Their concentration in time and the similarity of the legal structures used have nevertheless attracted attention. A notary interviewed by Immo Paris described investors seeking to assemble a discreet portfolio quickly. The identities of the ultimate beneficiaries remain difficult to establish, as the companies concerned are themselves owned by several French and European holding companies.