Acquisition

RNS Number : 7641T

Schroder Eur Real Est Inv Trust PLC

31 March 2016

 

31 March 2016

ACQUISITION - Completion of the purchase of the office property located in Boulogne-Billancourt (Paris), France

Further to the announcement on 22 December 2015, the Board of Schroder European Real Estate Investment Trust Plc (the "Company") confirms completion of the purchase of the office property located in Boulogne-Billancourt (Paris) at a purchase price of €37.5 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 €53 million. The Company continues to pursue negotiations on a number of other potential transactions however no firm commitments have been made as at the date of this announcement.

Enquiries:

Duncan Owen/Tony Smedley

Schroder Real Estate Investment Management Limited                  Tel: [phone]

Ria Vavakis

Schroder Investment Management Limited                                        Tel: [phone]

 

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