KanAm Grund's Leading Cities Invest fund (LCI) has expanded into the French regions with the purchase of an office building in Toulouse, France's fourth largest city.
Financial details were not disclosed.
Office building Le Galilée, built in 2010, includes two six-storey office buildings with an underground, interconnected garage. The entire property comprises around 10,500 m2 of lettable space, plus 121 external and 248 basement level parking spaces.
The property is fully let to AKKA Technologies, a European engineering and technology consultancy working in the aviation, railway, aeronautics and automobile sectors, and Sogeti, an IT company focusing on software tests and quality management services.
Including the Toulouse deal, LCI's portfolio now includes 16 properties in nine major European cities. According to KanAm Grund, negotiations for the fund's next acquisitions are now in the final stages.
