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Tour Eiffel (Société de la) — M&A Activity 2014
Oct 21, 2014
1712_iss_2014-10-21_3c5bf34c-a9e6-4942-8b96-a3db9d076330.pdf
M&A Activity
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Press release
2014/10/21
Société de la Tour Eiffel completes the acquisition of a 14,800 m² office building in Suresnes and pursues its objectives
Société de la Tour Eiffel confirms its strategy on the investment market completing the acquisition from Tishman Speyer of a new 14,800 m² office building located in Suresnes (Paris area) fully let to Cap Gemini. This acquisition follows the purchase in August last of an 8,300 m² office building in Bagneux, fully let to Orange.
The building, located on the Seine bank, was entirely refurbished in 2009/2010 and will provide the company during a firm period of close to 5 years with a secured rental income in excess of 5 million euros which will come over and above the 1.9 million rental income generated by the Bagneux asset.
This investment illustrates the company's determination to actively pursue its redevelopment in the building offices in the Paris region. These assets now represent over 75% of its portfolio (based on the values as at 30 June 2014).
«The company welcomes this new acquisition in line with the wishes of SMABTP, its new shareholder», declare Philippe LEMOINE, Managing Director of Société de la Tour Eiffel and Frédéric MAMAN, Deputy Managing Director.
Purchaser's advisors
Notary Firm : Oudot & Associés Legal Counsel : Lefebvre Pelletier & Associés
Sellor's advisors
Notary Firm : Etude Wargny Katz Real estate Counsel : Stratégies & Corp Legal Counsel : King & Spalding
Agenda :
14 November 2014 post market close: 3rd quarter turnover and activity 5 December 2014: General meeting
About Société de la Tour Eiffel
A listed real estate investment company (SIIC) on NYSE Euronext Paris, mainly held by SMABTP since the offer completed in September 2014. Its strategy is focused on investing in office real estate with great potential in Ile-de-France. Its portfolio stood at 682 million euros as at 30 June 2014.
Société de la Tour Eiffel is listed on NYSE Euronext Paris (compartment B) – ISIN code : 0000036816 – Reuters : TEIF.PA – Bloomberg : EIFF.FP – Indices : IEIF Foncières, IEIF Immobilier France
Press Contact www.societetoureiffel.com Jean-Philippe MOCCI Capmot Tél : +33 (0)1 81 70 96 33/+33 (0)6 71 91 18 83 [email protected]