AFFINE RE Paris, 16 November 2015, 8:00 am
Affine acquires an office complex of almost 11,000 sqm in Chaville
Affine has announced the signing of a sales agreement for the acquisition, from LBO France, of a 10,850 sqm office complex in Chaville, in the inner Parisian suburbs, for €15.7m (including transfer taxes).
This complex is located in the avenue Roger Salengro, a major road in the heart of the town close to the N10 and the A86 motorway. This predominantly mixed residential and business area has a good transport network, with the RER C and the SNCF train lines L and N giving access to the Paris Saint-Lazare and Paris Montparnasse train stations, as well as the 171 bus line.
The property complex, which is used mainly by offices, comprises 5 buildings on 7 or 8 levels linked together and enjoying separate lobbies. The complex also includes 650 sqm of shops on the ground floor, a 460 sqm ICR and 185 parking spaces in the basement. Built in 1990, the complex underwent refurbishment and compliance works in 2013.
The main tenant, Poste Telecom, occupies nearly 40% of the floor space. The 14 tenants also include companies such as Mizuno, Motors TV, Alten and Cocci Market in retail.
This operation is part of Affine's investment strategy, which aims for balanced development between Paris Métropole and major regional cities. This is an investment opportunity to provide rents over the coming years, following the recent disposals and pending the delivery of various off-plan acquisitions.
In this transaction, BNP Paribas Real Estate acted as consultant for the seller. The notaries representing the seller and the buyer are, respectively, Mr Guillaume Palais from the Monassier & Associés office and Mr Olivier Trichet from the Haussmann office.
ABOUTAFFINE
Affine is a real estate company specialised in commercial property. At the end of June 2015, it directly owned 55 buildings with a total value of €570m, excluding taxes, for a total floor area of 528,500 sqm. The firm owns office properties (53%), retail properties (22%) and warehouses and industrial premises (25%). Its assets are distributed more or less equally between Ile-de France and the other French regions.
Affine is also the major shareholder (49.5%) of Banimmo, a Belgian property repositioning company with operations in Belgium and France. At the end of June 2015, Banimmo had total assets of 21 office and commercial buildings, with a value of €384m (taxes included).
Total Group assets are €988m (including transfer taxes).
In 2003, Affine opted for French real estate investment trust (SIIC) status. Affine's shares are listed on NYSE Euronext Paris (ticker: IML FP/BTTP.PA; ISIN code: FR0000036105) and admitted to the Deferred Settlement Service (long only). It is included in the CAC Mid&Small, SIIC IEIF and EPRA indexes. Banimmo is also listed on NYSE Euronext.
To find out more: www.affine.fr. Follow our news thread on: https://twitter.com/Groupe_Affine
CONTACT
INVESTORRELATIONS
Frank Lutz
+33 (0)1 44 90 43 53 - frank.lutz@affine.fr
PRESSRELATIONS
RPpublics - Alexandra Richert
+33 (0)1 45 23 55 01 - alexandra.richert@rppublics.com
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