SOURCE: Société de la Tour Eiffel

January 29, 2008 06:06 ET

Société de la Tour Eiffel announces 3 new acquisitions

PARIS--(Marketwire - January 29, 2008) - Societe de la Tour Eiffel announces 3 new acquisitions

Société de la Tour Eiffel has made three new acquisitions in line with its investment strategy based on secure and long term returns coupled with medium term redevelopment opportunities with the accent on new or recent buildings.

In Amiens, the company has acquired the headquarters of Lee Cooper France, an 18,000 m(2) modern warehouse and office building on a 33.500 m(2) site. The vendor remains in occupation on a 9-year closed lease. In addition to offering a 8.5% initial yield, the property is located in an established retail park (Carrefour) with future redevelopment potential. The investment amounts to EUR 5.5 million.

In Chartres, the company has signed a purchase agreement with the property developer Sagimm/Built to acquire the first phase of a light industrial/office project. Two buildings of 5,700 m(2) each will be delivered in the heart of Comestic Valley adjacent to the A11 motorway. The investment amounts to EUR 13 million for an expected yield of 7,5%.

Chartres Business Park project will extend to 22,800 m(2) in total. Société de la Tour Eiffel has an option on the future phases.

In Saint-Cloud on the western borders of Paris, the company purchased a recent recording studio and offices building of 4.000 m(2), rented to VCF on a 9-year lease. The initial yield is 8%.

The site offers substantial office redevelopment potential in the medium term. The investment amounts to EUR 12 million.

The company was advised by Awon Asset Management, the notaries Etude Allez & Associés and Etude Le Breton & Associés. Atis Real were agents on the Saint Cloud transaction.

About Société de la Tour Eiffel

A " SIIC " quoted on the Euronext Paris Exchange, the company pursues a strategy focused on the ownership and the development of quality office and business space capable of attracting a wide range of tenants in both established and emerging locations. The company's portfolio stands out in excess of 1.160 billion Euros of assets spread evenly between the Paris area and the regions.


Robert WATERLAND, Managing Director

Tél. : +33 (0) 1 53 43 07 06

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Jean-Philippe MOCCI, Capmot

Tél : +33 (0)1 77 10 05 48 / (0)6 71 91 18 83

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