SFL Acquires SMA's Historical Headquarters Building in Paris
January 16 2017 - 2:30AM
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112-122 avenue Emile Zola - Paris 15
SFL (Paris:FLY) has entered into a €165 million deal to acquire
the historical headquarters building of the SMA group (SMABTP,
SMAvie). The building occupies a prime site at 112-122 avenue Emile
Zola, in the heart of Paris's 15th arrondissement. It is surrounded
by a mix of residential and commercial real estate and is well
served by public transport.
Contracts will be exchanged when SMA moves to its new
headquarters in the fourth quarter of 2017.
The roughly 21,000-sq.m. building dating back to 1966 stands on
a 6,300-sq.m. plot featuring a tree-filled garden that offers a
wide range of options. SFL intends to restructure the property as a
new major business centre in the west of the capital.
With this acquisition, SFL is pursuing its value creation
strategy and confirming its leadership of the Paris prime office
property market as well as its aim of offering current and future
clients the best possible work environment for developing their
businesses and attracting talent.
"We are focusing on making targeted acquisitions of completely
outdated office properties in high potential districts that we can
redevelop and put back on the market as prime new products aligned
with current expectations and office use practices," said Dimitri
Boulte, SFL's Managing Director and Chief Operating Officer.
In this transaction, SFL was advised by the Lacourte Raquin
Tatar and Allen & Overy law firms and 14 Pyramides, a notary's
office. SMA was advised by the Gide Loyrette Nouel and CMS Francis
Lefebvre law firms, as well as notary's office Oudot et Associés
and real estate advisors Stratégies & Corp and JLL.
About SFL
Leader on the prime segment of the Parisian tertiary real estate
market, Société Foncière Lyonnaise stands out for the quality of
its property portfolio, which is valued at €5.5 billion and is
concentrated on the Central Business District of Paris (Louvre
Saint-Honoré, Edouard VII, Washington Plaza, etc.), and
for the quality of its client portfolio, which is composed of
prestigious companies in the consulting, media, digital, luxury,
finance and insurance sectors.
Stock market: Euronext Paris Compartment A – Euronext Paris ISIN
FR0000033409 – Bloomberg: FLY FP – Reuters: FLYP PA
S&P rating: BBB stable outlook
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version on businesswire.com: http://www.businesswire.com/news/home/20170115005031/en/
Galivel & AssociésCarol Galivel / Doriane Fougères+33
(0)1 41 05 02 02galivel@galivel.comwww.fonciere-lyonnaise.com
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