AFFIPARIS: SLIGHT DROP IN ON RENTS ASSIGNMENTS

AffiParis achieved during the first nine months of 2010 a turnover of 11.4 million euros, down 6.4%.Rents stand at 9.3 million, down slightly from 4.4%, mainly originating from the sale of three small buildings completed since September 2009.
On a comparable basis, rents have remained virtually stable, registering a marginal decline of 0.7%.
During the third quarter, three new leases were signed for a total annual rent of 162,000 euros. No termination of lease has been registered.
AffiParis sold two office buildings in the Paris region: the first in July, with an area of 2,600 m² in Goussainville worth 1.5 million euros HD, and the second in September, Croissy Beaubourg, d an amount of one million euros to 1.020 m² HD.
The relative health of the Paris property market should enable the company to continue to benefit from a significant performance improvement. AffiParis complete in the coming months the sale of its remaining assets in the regions and continue its development efforts, alone or in partnership.


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