Turkish real estate investor Sedes Holding has acquired five office floors in Yapi Kredi Plaza, located in Istanbul's central business district for EUR 10.5 mln. The transaction volume represents a yield of 7.75%. Sedes purchased the 4,800 m[sup]2[/sup] of office space from Yapi Kredi Koray REIT in Yapi Kredi Plaza C Block, one of Istanbul’s most well-known office towers.
Turkish real estate investor Sedes Holding has acquired five office floors in Yapi Kredi Plaza, located in Istanbul's central business district for EUR 10.5 mln. The transaction volume represents a yield of 7.75%. Sedes purchased the 4,800 m2 of office space from Yapi Kredi Koray REIT in Yapi Kredi Plaza C Block, one of Istanbul’s most well-known office towers.
Yapi Kredi Plaza has various tenants on five floors. In addition, almost each floor has different contract expiry dates and different rent levels. The general profile of the various tenants are reputable national and international companies.
The general manager of representative agent Kuzeybati Savills, Murat Ergyn said the acquisition indicated trust in the Turkish economy and the strength and liquidity of Turkish buyers compared to European investors.
