InfraRed Capital Partners has divested two office buildings to the southwest of Paris as part of its value-add investment strategy.
InfraRed Capital Partners has divested two office buildings to the southwest of Paris as part of its value-add investment strategy.
The Ravel and Rachmaninov properties have been acquired by two SCPI investment vehicles for a net total price of €75 mln. The assets were owned by Infrared's SCI French Offices 4 fund.
Located in Guyancourt, both buildings were bought by Infrared at the development stage in June 2007. Delivered in March 2009, the assets are let with long-term rental agreements to health insurance group Malakoff Médéric.
‘We are selling two assets to institutional investors whose value creation process has been very satisfactory,' said Cedric Vallin, responsible for investment in France at InfraRed.
He added: 'On the investment side, we continue to actively seek new acquisitions with value-added potential.'
BNP Paribas Real Estate, Savills and F2P Conseil acted for the vendor. Jones Lang LaSalle has brokered the deal on behalf of the buyers.
Notarial offices Thibierge & Associates, Etude 1768 and law firm Gide Loyrette Nouel advised on the legal aspects.
