Valad Europe has acquired the Crystal Portfolio of two office and two industrial buildings for €33.8 mln. The purchase was made on behalf of its Valad European Diversified Fund (VEDF).
Valad Europe has acquired the Crystal Portfolio of two office and two industrial buildings for €33.8 mln. The purchase was made on behalf of its Valad European Diversified Fund (VEDF).
Totalling 41,301 m2 of office and light industrial space, the Crystal Portfolio comprises four assets located in Combs la Ville and Lisses in Greater Paris; Schiltigheim in Greater Strasbourg, and Dardilly in Greater Lyon. The assets are all modern builds, constructed between 2005 and 2008.
Current tenants include a mix of national and international companies including Crédit Agricole, Siemens, Manpower and Orange.
'The ability to deploy capital smartly and swiftly is of increasing importance in current markets, especially in order to secure maximum value from high-quality off-market portfolios and individual assets,' said Karl Delattre, Valad Europe's head of France. 'The Crystal Portfolio further increases our exposure to the office sector and provides greater diversity for our French portfolio, as we continue to deploy capital into the market.'
Valad Europe manages €5.3 bn of real estate assets and investment capacity across its 27 funds and mandates in Europe, with 35 assets in France, occupying 480,000 m2 of space.
