Gecina sells "Le Mazagran" building in Paris for €84 mln (FR)

Gecina has announced that it has sold an office building situated in Gentilly on the outskirt of Paris.
The building comprises of 15,000 m² gla and is rented out to IPSOS through the end of 2016.
The transaction amounts to €84 mln with a premium of 11.5% compared to last appraisal. Based on potential stabilized rents, the transaction represents a net yield of 5.4%.
Source: Gecina