Inovalis acquires 16,000 m

The Paris real estate fund manager Inovalis has realised its first acquisition in Toulouse. The company re-acquires the 16,000 m² Centreda office buildings from the Dutch property company Corio. The Centreda office buildings are situated in the Blagnac airport zone. The amount of the acquisition is € 16 million, which means a return on investment of 9%. DTZ in Toulouse has been given total authority by the former owner.

The property consists of two buildings. Centreda 1 (12,000 m²), completed in 1974, is now a multi-tenant building (amongst others EADS or British Aerospace) and fully let. Centreda 2 (4,150 m²) has been completed in 1989. The building, of which the facades and interior have been completely renewed in 2003, is completely occupied by the Société Rockwell. This transaction is the most important investment in the Toulouse market in years.

Source: Businessimmo

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