PARIS--(BUSINESS WIRE)--Regulatory News:
SFL (Paris:FLY) and WeWork France have signed a 12-year fixed-term lease
for a surface area of 3,400 sq.m. in the flagship property at
92 Champs-Elysées, which was extensively remodelled in 2012.
With this latest move, the global co-working leader is further demonstrating its focus on the premium end of the Paris property market.
Signed just two months after the marketing campaign began, the lease also confirms the strong positioning of SFL – which seeks to offer exceptional properties in the most attractive Paris locations – thereby enhancing the resilience and performance of the Company’s business model.
“We look forward to welcoming WeWork among our new clients. Our challenge is to transform our properties to meet the very demanding specifications of these world leading companies” said SFL.
WeWork was represented in the transaction by law firm DLA Piper and BNP Paribas Real Estate. SFL was represented by BNP Paribas Real Estate.
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 €5.9 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+ stable outlook