In January 2025, casino and gaming club operator Partouche, one of the leaders in its market in France, completed the acquisition of a retail and office building located at the foot of the Arc de Triomphe in the 17th arrondissement of Paris, at 10 avenue de la Grande Armée.
Built in 1930 and managed as a condominium, the building has a surface area of 8,550 m² spread over seven floors. Freo and Veld have carried out work to increase the building’s capacity and bring it up to standard. In the future, 10 Grande Armée will be redeveloped to accommodate the Partouche group’s Parisian gaming club, currently located at 11 rue de Berri, as well as its head office.
Freo & Veld had signed this building as a joint venture in 2022 with Deka Immobilien, which in turn had acquired it in 2016 from Merlin Properties Socimi. Freo has done a great deal of work over the past two years, including reviewing the co-ownership rules, applying for planning permission at and carrying out works. “The Avenue de la Grande Armée is set to undergo a transformation over the next 10 years, a process that is already underway near Porte Maillot, and is a continuation of the work carried out on the Champs-Elysées. There is no doubt that Groupe Partouche will be building a highly visible headquarters and will benefit from the transformation of the avenue in the near future. We are delighted to have completed our work to create value in this building,” says Romain Frémont, Chairman of Freo France.
