Société Foncière Lyonnaise: SFL Sells the 9 Percier Building (Paris 8) to Deka Immobilien
9 Percier Photo: Bruno Démelin
SFL (Paris:FLY), the benchmark in the Paris prime commercial property market, has sold the 9 avenue Percier building in Paris 8
th
arrondissement to Deka Immobilien, for €143.5 million excluding transfer costs.
The Art Deco building, comprising 6,300 sq.m. of rental space, was acquired by SFL from Eurosic in 2015 for €67.6 million including transfer costs. Over the next four years (2016-2019) extensive work was undertaken by SFL to redevelop the building and enhance its market value, leading to a 13% IRR on a 6 years period.