Goldman Bets on City Bounceback With Paris Real Estate Deal

July 30, 2021, 12:21 PM

Goldman Sachs Group Inc. is betting that prime retail and office space in Europe’s top capitals still has a bright future.

The firm’s asset management unit has agreed to acquire a block in the French capital that it plans to transform into an upscale store, with office space above, according to Tavis Cannell, who is co-head of EMEA real estate. It’s the latest in a series of real estate bets the bank is making on the future of cities as the world begins its gradual recovery from the coronavirus pandemic.

“We never believed that cities were going to die ...

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