French property investment and management company Docks Lyonnais has acquired a portfolio of 60 commercial units in Lyon from property advisor DTZ Asset Management and Cargill for about EUR 100 mln.
French property investment and management company Docks Lyonnais has acquired a portfolio of 60 commercial units in Lyon from property advisor DTZ Asset Management and Cargill for about EUR 100 mln.
DTZ purchased the portfolio, comprising ten mixed-use buildings, from the municipality of Lyon at the end of 2004 for EUR 87 mln. The buildings provide a total of 46,000 m2 in the Rhone district of the city.
DTZ Asset Management said in a press release that the sell-off involves the ground level of the assets, including some 19,000 m2 of commercial units. DTZ is retaining the upper floors that house offices and residential units.