JR AMC acquires French office building
JR AMC has announced that it has purchased a franchise office building for Hana Fin for $ 194 million.
The South Korean-based JR AMC purchased a commercial building in the western part of Paris by paying 194 billion won, namely 194 million dollars on behalf of Hana Financial Investment.
American real estate company Tishman Speyer sold the building called Le Cristalia, which was completed in 2002, to JR AMC, a real estate investment company on 15 March. The renovated seven-storey building was transferred to a pharmaceutical company, Bristol-Myers Squibb Co. The building is located in the town of Rueil-Malmaison, the western region of Paris.
The acquisition is based on Hana Financial and NH Investment & Securities Co. Ltd. it took place directly behind a consortium. Hana invested a capital in Le Cristalia, which has an area of 20,222 square meters using the JR AMC.
Recently, South Korean investors have started to invest in Paris, the largest real estate market in Europe, and in suburban areas. The demand for Paris real estate assets, intensely restructured before the 2024 Paris Olympics, increased.
Investors expect to achieve a 7-9% year-on-year return from gains in Korean currency.
JR AMC has made some purchases on Hana Financial Investment last year. He first bought Dublin Landing No. 2 in Dublin. Later on, the eight-storey building was leased to WeWork for 20 years.
Sevdenur Demir / [email protected]