Horizon French Property Partnership 1 S.C.A., a limited partnership company in Luxemburg, just completed, with the French developer Bati Conseil, the acquisition under VEFA (forward purchase) of a 14,000 m² building called 'Le Vitalys' in the Porte des Lilas urban development zone in the 19th of Paris for €51 million. Delivery is set for fourth quarter 2008. In this transaction, CB Richard Ellis advised Bati Conseil.
The Partnership has €115 million of equity. The Vitalys and other investments in France that are currently being signed, particularly in offices and logistics, commit more than half of the Partnership's equity.
Horizon is planning to launch a second fund at the start of 2008.
The activity of the Horizon Group is developing in France & in the Benelux, both in Investment & Asset Management. Partnerships with international investors are currently being signed and will take effect in 2007.
Source: Horizon Asset Management France SAS