PARIS--(BUSINESS WIRE)--Regulatory News:
The Société Foncière Lyonnaise (Paris:FLY) has concluded the acquisition of the long-established headquarters of GrDF, located on the rue Condorcet in the 9th arrondissement of Paris, from the Blackstone Real Estate Partners III Europe private equity fund, in line with the announcement made on 17 November.
This transaction, which represents an investment of €230 million, relates to a 25,000 sq.m. real estate complex that is sited on a one-hectare plot in the immediate vicinity of the Gare du Nord and is leased to GrDF for a 10-year fixed term.
SFL notes that “this major acquisition consolidates SFL's unique positioning as the benchmark leader in the Paris prime commercial property market. This investment, which is entirely accretive thanks to current financing conditions, is in keeping with the strategy of a real estate company that aims to position itself on major commercial property complexes that are very well connected and offer opportunities for development and the potential to create value in the longer term.”
SFL was advised on this transaction by the law firms Gide and Oudot & Associés while the seller was advised by Catella.
Leader on the prime segment of the Parisian tertiary real estate market, the Société Foncière Lyonnaise stands out for the quality of its property portfolio, which is valued at 4.3 million euros 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.
Euronext Paris Compartment A – Euronext Paris ISIN FR0000033409 – Bloomberg: FLY FP – Reuters: FLYP PA
S&P RATING: BBB- Stable outlook