The city of La Buffa has just been bought by an investment fund, after more than 10 years of battle between owners.
The commercial city, sold by the Nice city hall in 2008, has since continuously passed from one owner to another, never resulting in any real estate project.
In 2008, the city of La Buffa, located in the heart of the Gambetta district, was initially sold by the city hall to the Beaulieu Patrimoine group, which later went bankrupt and was placed in judicial liquidation in 2016. With the agreement of the Paris Commercial Court, it was then bought in 2018 by the Carnivor group but not in its entirety – the group actually purchased 62 lots out of 67, reports BFM Côte d’Azur.
The building was supposed to become a complex with a small commercial city, but Carnivor never managed to reach an agreement with the other owners, thus blocking the possibility of completing any project.
The Nice city hall then issued a deadline until February 12, 2021, for the different parties to reach an agreement. The deadline was slightly exceeded, but at least an agreement was found. It is therefore the Parisian investment fund Apicap that has purchased the entirety of the city of La Buffa.
Anthony Borré, the first deputy mayor of Nice, also expressed on the matter that it was “inconceivable for the people of Nice to continue being hostages to private stakes.”
Our strategy with @cestrosi has borne fruit with respect to the two owners of La Buffa, who had been in conflict for so many years. An investment fund will acquire and redefine the place. It was inconceivable that the people of Nice continue to be hostages of private stakes #nice06 pic.twitter.com/AuUZODQnOH
— Anthony Borré (@anthony_borre) December 2, 2021
