Sagax is buying its first property assets in France through a portfolio deal.

The Stockholm-based company paid SEK455m (€49.1m) for 14 industrial assets.

French asset manager Perial sold the 79,000sqm portfolio.

Eight assets are located near Paris, with the remainder being near Lyon.

Two of the assets are empty.

Sagax, a Swedish and Finnish industrial-sector specialist, said the French portfolio was 83% let.

The deal is due to complete by September this year.