LaSalle Investment Management has acquired the CityOne office complex in Lyon from a fund managed by Invesco Real Estate for an undisclosed amount.
LaSalle Investment Management has acquired the CityOne office complex in Lyon from a fund managed by Invesco Real Estate for an undisclosed amount.
Located in the 6th district of Lyon, known as the Cité Internationale, the scheme was completed in 2004 and offers around 17,000 m2 of office space let to around 20 tenants.
Invesco Real Estate bought the property in 2010 from German fund manager Kanam in its first deal in France. It bought the asset for a price of around €60 mln, reflecting a net initial yield of 6.5%.
The buyer was advised by Lavigne & Roux and Wragge & Co, AARPI and Fidal. Begon Herbert Bougeard Brulon & Bonneau acted for the vendor.
Knight Frank brokered the transaction.
