PAREF : PAREF ACQUIRES A 5,800 M² BUILDING IN LEVALLOIS-PERRET

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Press release

Paris, 28 April, 5.35pm


PAREF ACQUIRES A 5,800 M² BUILDING IN LEVALLOIS-PERRET

SIIC PAREF announces the completion of the acquisition of an office building located in Levallois-Perret (outside Paris) for a total sum of ¤24 million deeds in hand. With a leased occupancy rate of over 95% and located close to the So Ouest shopping centre, it benefits from a prime location in a promising and rapidly changing environment.

The building, which was constructed in 1995, enjoys a very high profile due to its angled structure, and its proximity to public transport and the Paris périphérique (surrounding motorway). It has a surface area of 5,800 m².

Its occupancy rate is 95%, thanks to 8 tenants accounting for 10 leases. The large majority (more than 70%) of rents have been renegotiated during the past two years at levels in line with the current rental market.

Alain Perrollaz, Chairman of the PAREF Management Board, added, "The acquisition of this building is fully consistent with our strategy of trading up our asset portfolio and illustrates our resolve to refocus our asset portfolio on commercial properties located in the immediate proximity of Paris, and that have the potential to create value."
 

Paref was advised in this acquisition by the legal practice Wargny Katz and the investment division of BNP Paribas Real Estate. The acquisition is co-financed with Crédit Agricole Ile de France and Bpifrance Financement.

 
About PAREF
 
 
 
 
Contacts
PAREF Group operates in two major complementary areas:
§ Commercial and residential investments: PAREF owns various commercial buildings in and out of the Paris region. The Group also owns the temporary usufruct of residential property in Paris.
§ Management on behalf of third parties: PAREF Gestion, an AMF-certified subsidiary of PAREF manages 5 SCPIs and 2 OPCIs.
At 31 December 2013, PAREF Group owned ¤ 173 million in property assets and managed assets worth ¤ 683 million on behalf of third parties.
Euronext Paris - Compartment C
ISIN: FR00110263202 - Ticker: PAR
   
 
Alain PERROLLAZ
Chairman of the
Management Board

Olivier DELISLE
Member of the Management
Board
Board
Tel: +33 1 40 29 86 86

 
 
Lucie LARGUIER

Investor and Press Relations

lucie.larguier@citigate.fr

Tel: +33 1 53 32 84 75
Shareholders' agenda
 
1st quarter sales: 6 May 2014
Annual General Meeting: 14 May 2014
 
For further information, please visit the PAREF Group website: www.paref.com
Information non réglementée
Communiqué intégral et original au format PDF :
http://www.actusnews.com/documents_communiques/ACTUS-0-35792-PAREF-Acquisition-Immeuble-Levallois-Perret.pdf
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