Groupe Leonard De Vinci has acquired a real estate portfolio from a private property fund for a total of about EUR 38 mln, including costs. The portfolio includes nine office buildings fully let to tenants including the French finance ministry for lease periods of three, six or nine years, French newspaper Business Immo reported.
Groupe Leonard De Vinci has acquired a real estate portfolio from a private property fund for a total of about EUR 38 mln, including costs. The portfolio includes nine office buildings fully let to tenants including the French finance ministry for lease periods of three, six or nine years, French newspaper Business Immo reported.
The assets are located across the Paris region and provide a total area of 23,000 m2. The portfolio generates a net rental income of EUR 2.6 mln per annum, the company said. The group added that the assets are earmarked for a new fund that will invest in 'commercial buildings let to quality companies.' The new fund will aim to invest about EUR 250 mln before the end of the year, of which 50% is already committed, the group said.
Leonard De Vinci group was assisted by the Bonneau, Begon, Herbert and associates notary practice and the Taylor & Wessing legal practice. Maitre François Lejeune acted as adviser for the seller. Financing was provided by BNP Paribas.
