Credit Agricole Asset Management Real Estate has bought two office buildings in Lyon for a price of just over EUR 30 mln. The properties were acquired from Fonciere des Regions and provide total space of 11,000 m[sup]2[/sup]. The buildings were bought at a net initial yield of 7.2% and 7.5% respectively.

Credit Agricole Asset Management Real Estate has bought two office buildings in Lyon for a price of just over EUR 30 mln. The properties were acquired from Fonciere des Regions and provide total space of 11,000 m2. The buildings were bought at a net initial yield of 7.2% and 7.5% respectively.

'These properties represented great opportunities as they are leased with long-term leases of six and nine years,' Nicolas Simon, the newly appointed Chief Executive Officer of CAAM RE, told PropertyEU during the MIPIM trade fair in Cannes. The acquisitions are earmarked for the group's Slivimo and Lion SCPI vehicles.