Friday, 5 September 2014
LBO France and Maple Knoll Capital buy French office assets in portfolio transaction (FR)
LBO France and Maple Knoll Capital acquired assets in a recently closed portfolio transaction concerning four office buildings in the outskirts of Paris, including a 17,000 m² environmentally certified office building in St. Ouen let to Alstom Transports with a 12-year firm lease, as well as three additional office assets.
Phillip Burns, CEO of Maple Knoll Capital stated: “This is our first deal in France and follows our recent acquisition of a 60,000 m² office building in Munich, Germany. Maple Knoll is focused on value-add and opportunistic real estate and we continue to see selective opportunities in Europe.”
Stéphanie Casciola, Head of Real Estate at LBO France declared: “This is our third acquisition since the start of the year, following that of the 24 light-industrial asset LIPS portfolio in Ile-de-France and a 10,000 m² office building located in the French CBD La Défense (Le Cap). These acquisitions illustrate our ambition to be increasingly active in the context of a recovering French market, which particularly lends itself to value added investment strategies.
The investment department of Catella brokered the transaction representing over 60,000 m². Natixis provided financing to both LBO France and Maple Knoll Capital.
LBO France and Maple Knoll Capital were advized by Clifford Chance (Francois Bonteil, Adeline de Menonville), Wragge & Co (Pierre Appremont, Pierre-Emmanuel Chevalier) and by Etude Monassier (Sylvie Burthe-Mique, Guillaume Palais.