26/06/2009 - France, Affine sells office building

The Affine group has sold a property to UFFI Real Estate Asset Management (UFFI REAM) for 7.6 million euros continuing its strategy to streamline it office property portfolio. The deal, announced by Affine will generate a significant capital gain for the company’s financial statements for 2009. The office building in Marseille has more than four thousand square metres of space. The Affine Group is a French property investment company that operates like a real estate trust and invests mainly in France in office, logistics and retail property. At the end of 2008 the group's capitalization was around 105 million euros. Affine has a fifty percent share in Banimmo, a property company that invests in Belgium, France and Luxemburg with a market capitalization of nearly 170 million euros. The group’s third subsidiary is AffiParis, specializing in the commercial sector in Paris.