Siic de Paris, the French arm of Spanish group Realia, has sold 1,700 m2 of office space in Paris' 17th district to local real estate investment trust Terreis.
Siic de Paris, the French arm of Spanish group Realia, has sold 1,700 m2 of office space in Paris' 17th district to local real estate investment trust Terreis.
The transaction amounts to a total of €18 mln, representing a 7.3% premium to the asset's most recent appraisal value carried out by CBRE.
In a statement, Siic de Paris said that the deal generates a gain of nearly €6 mln. 'The transaction is part of our traditional strategy to rotate assets and sell non-strategic properties,' the Paris-based company said.
The acquisition involves the sixth floor of an office building located at 4-10 Avenue de la Grande Armée at the corner with 32 rue Tilsitt. The space is fully let to developer HRO as well as companies Almanach, Mister Bell and Videlot.
Agent DTZ advised the buyer.
