French listed property firm Affine has acquired a portfolio of offices to the west of the Paris Metropole area for €42.5 mln from LBO France.
The portfolio consists of three buildings providing a total gross lettable area of 12,000 m2, and generates annual rental income of €2.7 mln.
This acquisition reflects a yield of 6.35%.
The package includes a nearly fully let building offering 6,346 m2 of space in Suresnes, on the banks of the Seine; a 3,400 m2 office scheme in the Espace Clichy business park in the new André Citroën mixed development zone in Clichy as well as a fully-let 2,068 m2 building in Courbevoie.
Affine said that the acquisition is in line with its investment strategy aimed at a for balanced development between the Paris Metropole area and France's major regional cities.
BNP Paribas Real Estate acted as adviser to the vendor.
