French listed commercial real estate company MRM has signed an agreement with peer Fonciere LFPI regarding the sale of two fully let office buildings to the west of Paris for a total of nearly EUR 40 mln.
French listed commercial real estate company MRM has signed an agreement with peer Fonciere LFPI regarding the sale of two fully let office buildings to the west of Paris for a total of nearly EUR 40 mln.
The disposals - to be completed during the fourth quarter - involve 5,900 m2 of offices at Quai de Dion-Bouton in Puteaux (92), in the western suburbs of Paris, as well as a 4,600-m2 office building located at Avenue Paul Doumer in Rueil-Malmaison (92).
Jacques Blanchard, chairman and CEO of MRM, said: 'The two assets sold form part of the portfolio of stabilised office properties and net proceeds from this transaction will contribute to the financing of current investment programmes on development properties.'
MRM was advised by Jones Lang Lasalle and CB Richard Ellis, law firm Lefèvre Pelletier & Associés, and notary firm Theret Leroy Rebérat. Fonciere LFPI was advised by Wragge & Co, PwC and notary firm Morin.
MRM is a listed real estate company managed by CB Richard Ellis Investors.
