Invesco acquires City One in Lyon at 6.5% yield

By A staff reporter 2010-01-06T00:00:00+00:00

Jones Lang LaSalle, acting on behalf of Invesco Real Estate (IREEF), has acquired the City One building in Lyon from German fund manager Kanam. The asset is situated in the 6th district of Lyon, in the Cité Internationale, with a lettable surface of approx 17,000 m[sup]2[/sup].

Jones Lang LaSalle, acting on behalf of Invesco Real Estate (IREEF), has acquired the City One building in Lyon from German fund manager Kanam. The asset is situated in the 6th district of Lyon, in the Cité Internationale, with a lettable surface of approx 17,000 m².

Completed in 2004, the property is currently let to 20 tenants. The purchase price was approximately EUR 60 mln, reflecting a net initial yield of 6.5% and is IREEF's first acquisition in France.