Zublin Immobiliere announced on Monday that it has bought the head office of the global automotive supplier Faurecia in Nanterre, France. The total investment price comes to EUR 88 mln, reflecting a net initial yield of 6.2%. The building, developed in 2001, provides some 11,200 m[sup]2[/sup] of space and 296 parking spaces. It is wholly let to Faurecia for a net annual rent of EUR 5.44 mln. The deal includes EUR 33 mln of own equity and EUR 55 mln of debt.
Zublin Immobiliere announced on Monday that it has bought the head office of the global automotive supplier Faurecia in Nanterre, France. The total investment price comes to EUR 88 mln, reflecting a net initial yield of 6.2%. The building, developed in 2001, provides some 11,200 m2 of space and 296 parking spaces. It is wholly let to Faurecia for a net annual rent of EUR 5.44 mln. The deal includes EUR 33 mln of own equity and EUR 55 mln of debt.
Earlier this year, Zublin Immobiliere said it planned to invest about EUR 300 mln by 2009 on real estate across the country. The company owns assets valued at EUR 327 mln.
