Both are located in Lille's prime office area. They have a combined floorspace of 74,602 sf of offices, 800 sf of storage space and 188 car parking spaces and are fully let, producing a total rental income of FFr 4,854,164 ($686,000) per annum.
The total purchase price for the properties was FFr 48 million ($6.8 million) representing an initial yield of 10.6%. CLS has completed a floating-rate loan facility of FFr 36 million ($5 million) at a capped interest rate of 5.25% which means it will receive a return on equity of 31.5%.
CLS's Executive Chairman, Sten Mörtstedt, said: 'These acquisitions continue our strategy of acquiring high yielding, well let office buildings in good office locations, producing very satisfactory returns on the equity invested.'
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