SFL Sells In/Out to Primonial REIM
October 02 2017 - 1:00AM
Business Wire
Regulatory News:
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http://www.businesswire.com/news/home/20171001005053/en/
IN/OUT (Photo: Thierry
Lewenberg-Sturm)
On 29 September 2017, SFL (Paris:FLY) completed the sale to
Primonial REIM of the In/Out building, located at 46 Quai
Alphonse le Gallo in the western Paris suburb of
Boulogne-Billancourt.
Acquired in 2000 by SFL as part of a sale and leaseback
transaction, the 35,000 sq.m property was extensively
remodelled between 2011 and 2013 after Thomson left the premises.
In partnership with architecture firm DTACC and design agency
Jouin-Manku, SFL transformed the industrial site into a unique
office complex offering an outstanding working environment in
western Paris, complete with a dedicated services pavilion
featuring a conference centre and a foodservice area.
The building is currently let in full to the Organisation for
Economic Co-operation and Development (OECD) under a lease expiring
in 2027.
The net sale price of €445 million represents a yield of
3.7% (including transfer costs).
“This transaction marks the culmination of the work we have
undertaken since 2011 to create value, and it confirms our ability
to develop unique, standard-setting products.”
SFL was advised in the transaction by JLL and notary office
Oudot, and Primonial REIM was advised by notary office Wargny Katz
& Associés and law firm LPA-CGR.
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 €6.1 billion and is
concentrated on the Central Business District of Paris
(#cloud.paris, 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 with a positive outlook
View source
version on businesswire.com: http://www.businesswire.com/news/home/20171001005053/en/
SFLThomas Fareng, +33 (0)1 42 97 27
00t.fareng@fonciere-lyonnaise.comorGalivel &
AssociésCarol Galivel/Doriane Fougères, +33 (0)1 41 05
02 02galivel@galivel.comwww.fonciere-lyonnaise.com
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