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Schroder European Real Estate buys Paris office

31 March 2016 15:39

Schroder European Real Estate Investment Trust has completed the purchase of the office property located in Boulogne-Billancourt (Paris) for EUR37.5 million reflecting a net initial yield of 5.7%.

The asset is well located in Boulogne-Billancourt, a densely populated and established office area in western Paris. It is fully let to a leading technology consulting and engineering company at sustainable rents with a remaining lease term of 5 years.

As previously announced, the company has also committed to acquire an additional three assets having a total purchase price of EUR53 million. The company continues to pursue negotiations on a number of other potential transactions.

At 3:39pm: (LON:SERE) Schroder European Real Estate Investment Trust Plc Ord Gbp0.10 share price was 0p at 106.13p

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