Contact médias : Carol Galivel - 01 41 05 02 02

2 Jun 21

Edgar Suites announces a € 104 million deal with BC Partners to finance its real estate growth

Edgar Suites announces a capital increase of € 104 million from BC Partners Real Estate, a major player in private equity and real estate. The objective is to enable Edgar Suites to become the key player in Urban Suites in France.

An innnovative hospitality offer adapted to new customer uses

Five years ago, Edgar Suites reinvented the concept of hotel residences located in town centers, by creating a new offer, called “Urban Suites”.The Urban Suites at Edgar Suites are spacious, fitted with top-of-the-range kitchens and quality amenities, as well as tasteful and remarkable decor. Edgar Suites is to an apartment hotel what the boutique hotel is to a hotel.

The customer experience is at the heart of Edgar Suites' strategy, as evidenced by the excellent ratings received on booking platforms (9.2 / 10 on average).

The customers of Edgar Suites, who belong to both leisure and business segments, appreciate the remarkable experience resulting from the quality of its establishments (combining central locations, meticulous decoration, generous spaces, hotel comfort, additional services, charm conveyed by the “boutique” spirit of the buildings) and its quality / price ratio.

Another key asset of Edgar Suites : its personalized digital concierge services, which are internalized and provide a responsive, professional and state-of-the-art customer interface.

5000 sqm of ongoing projects and a 25.000 sqm 5-year objective

The company, which already operates Urban Suites at 18 addresses in Paris and Bordeaux, expects nearly 5,000 m² of projects to be delivered.

Building on this success, Edgar Suites is stepping up its development with its € 104 million fundraising from BC Partners Real Estate. The ambition is to create the French benchmark for Urban Suites, by participating in the necessary regeneration of commercial real estate assets that have become obsolete.

This growth will involve the development of 25,000 m² of additional Urban Suites in France by 2026. An ambition still carried by the founders of Edgar Suites, Xavier O’QUIN, Maxime BENOIT and Grégoire BENOIT, who retain control of the company.

A fully compliant actor of urban regeneration through the transformation of obsolete real estate commercial assets

While the Edgar Suites offer is undoubtedly revolutionary in use, it is designed to be fully compliant with regulations.

Edgar Suites, now a member of the French PropTech, is positioned as the benchmark partner for local authorities, participating alongside them in the conversion of buildings made obsolete by the development of new uses (co-living, co-working, short stay, etc.). The flexibility of the Edgar Suites model allows for harmonious and discreet integration into an existing ensemble, while promoting urban diversity.

Thus, the transformation of tertiary real estate surfaces that have become inadequate (offices, small hotels, etc.), into urban suites, is carried out in accordance with the regulatory framework (Loi Elan, PLU, fire regulations, etc.) and in a respectful approach to the environment.

Edgar Suites has evolved a lot in a few years but remains focused on the strategic choices that have led it to reinvent the concept of hotel residences: taking the best of the hotel and the rental between individuals in the service of a remarkable traveler experience, all within a fully regulation-compliant framework ”, emphasizes Xavier O’QUIN, president of Edgar Suites, who takes pride of the resilience of his company during this period of health crisis - the group had an average occupancy rate of 84% in 2020.

BC Partners is the preferred investing partner to propel our growth

Edgar Suites aims to operate the residences through leasing from third-party owners and now for its own account after acquisition of the walls. "With this substantial fundraising, led by Chausson Finance, Edgar Suites is entering the next phase of its growth", underlines Xavier O’Quin, CEO. “I am truly satisfied with our partnership with BC Partners which is without a doubt the most qualified investor partner to accelerate our growth. Our goal ? To become a true national champion on this Urban Suites segment. » 

"Through this acquisition, we wish to support Edgar Suites and its managers in their next phase of growth and thus contribute to the emergence of a new class of institutional assets, which will meet the demand for new uses in the hospitality industry and its necessary regulation, alongside local authorities”, stated Thibault Lauprêtre, BC Partners Real Estate Managing Director.