LBO France Buys Office Building From Union Investment
News: French private equity fund LBO France has purchased an office building in France from Germany-based Union Investment. 'Le Cap' covers an area of 10,000 square metres and is in the business district of La Défense. The nine-storey building is leased to Société Générale.
BMI View: In Q114 we forecast rental rates to remain stable across the three sectors we cover, office, retail and industrial. Yields are expected to remain fixed at currently levels, reflecting a relatively balanced supply-demand dynamic across the market.