Saturday, December 26, 2009

HSBC to Sell Paris Buildings

The properties, at 103 avenue des Champs Elysees and 15 rue Vernet, have an area of 357,000 square feet combined and are the last two major corporate buildings that the U.K. bank put on sale in recent months.

HSBC recently agreed to sell its London base at Canary Wharf to the National Pension Service of Korea for £772.5 million ($1.25 billion) in cash, and its New York headquarters to Israeli investment holding company IDB Group for $330 million.

The Paris buildings are being sold to real-estate asset manger French Properties Management on behalf of private investors, the bank said in a statement, adding that it will lease back the properties for nine years.

French Properties added

France Real Estate for Sale