Cannes college deal is icing on the MIPIM cake for Courbet

This year MIPIM had more than the event’s usual appeal for Emmanuel Blouin, director of Paris-listed turnaround property specialist Courbet and managing partner of Esterel Capital. Not only was the show well attended and a good opportunity to meet business partners, but the company has just concluded a deal in Cannes.

“For the first time in 23 MIPIMs that I have attended, we’ve done a transaction in Cannes by taking over the management of the College International du Cannes,” Blouin said.

Blouin explained that the college, which occupies a 1.1 hectare site 10 minutes on foot from the Palais des Festivals, is an international college whose mission is to teach French to international students from all over the world.

Courbet is taking over the management of the property with a view to expanding its activities, potentially to include hospitality, catering and associated activities.

“There will potentially be a gastronomic school on the site, so we’re very excited about this project,” Blouin said.

The debt market and the unfolding story about the banking sector were major preoccupations for discussion during MIPIM said Blouin, who expects a downturn to occur in the real estate business. But this could be good for opportunistic investors. “We have clear focus on strategies that we think will structurally be growing, so this is a good time for us,” he said.

Please click on the video above to watch the full interview or listen to the podcast below.