French SIIC Terreis has acquired an office complex in Paris from the R-SIIC company for EUR23.5 mln. The complex consists of three office buildings providing a total 6,200 m[sup]2[/sup] of space and located in Cité Paradis in the 10th Arrondissement of Paris.
French SIIC Terreis has acquired an office complex in Paris from the R-SIIC company for EUR23.5 mln. The complex consists of three office buildings providing a total 6,200 m2 of space and located in Cité Paradis in the 10th Arrondissement of Paris.
The property currently generates an annual rental income of EUR1.6 mln. In a statement, the company said that the deal reflects a net initial yield of 6,95%. The transaction is expected to be completed by the end of September.
