Kenmore European Industrial Fund has completed the sale of the Technosite building in Herblay, northwestern Paris, to a private investor, for EUR 4.17 mln. The transaction price is 6.15% below the March 2009 valuation.
Kenmore European Industrial Fund has completed the sale of the Technosite building in Herblay, northwestern Paris, to a private investor, for EUR 4.17 mln. The transaction price is 6.15% below the March 2009 valuation.
The multi-let property comprises 72,180 sq ft (6,713 m2) of mixed office/light industrial space and is let to 25 tenants including La Poste. Thanks to its good location and affordable rents, Kenmore has achieved a high level of occupancy at the asset since its acquisition in September 2006, the company said in a press release.
KEIF will use the proceeds from the disposal to further degear its portfolio, in line with its current de-risking strategy.
BNP Paribas Real Estate acted on behalf of KEIF.
