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Home>SFL Sells In/Out to Primonial REIM

SFL Sells In/Out to Primonial REIM

SFL Sells In/Out to Primonial REIM

10/02/2017

SFL Sells In/Out to Primonial REIM

Regulatory News:

This press release features multimedia. View the full release here: http://www.businesswire.com/news/home/20171001005053/en/

IN/OUT (Photo: Thierry Lewenberg-Sturm)

IN/OUT (Photo: Thierry Lewenberg-Sturm)

On 29 September 2017, SFL (Paris:FLY) completed the sale to Primonial REIM of the In/Out building, located at 46 Quai Alphonse le Gallo in the western Paris suburb of Boulogne-Billancourt.

Acquired in 2000 by SFL as part of a sale and leaseback transaction, the 35,000 sq.m property was extensively remodelled between 2011 and 2013 after Thomson left the premises. In partnership with architecture firm DTACC and design agency Jouin-Manku, SFL transformed the industrial site into a unique office complex offering an outstanding working environment in western Paris, complete with a dedicated services pavilion featuring a conference centre and a foodservice area.

The building is currently let in full to the Organisation for Economic Co-operation and Development (OECD) under a lease expiring in 2027.

The net sale price of €445 million represents a yield of 3.7% (including transfer costs).

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