ÆRIUM has conditionally exchanged contracts for the sale of The Celsius Portfolio to Invista Real Estate Investment Management Holdings plc and Propinvest Group Ltd.
This portfolio consists of 34 high quality assets located across France, primarily in the Ile de France region around Paris and in the major French conurbations. The assets total 215,000 m² of lettable accommodation, split by value into 38% office, 33% mixed use, 25% industrial and 4% retail. Key tenants include Carrefour, France Telecom, Amec Spie, Areva (world leader in nuclear technology) and the French Social Security Services. The portfolio sale was structured through the sale of 100% of the share capital of a Luxembourg domiciled holding company.
The sale of The Celsius Portfolio closely follows the sale of the ÆRIUM 3 (Champagne) portfolio for €165 million. ÆRIUM Funds acquired further high quality assets throughout Western and Central Europe valued at over €600 million in the first quarter 2007.
ÆRIUM is a leading European property fund manager and investor and currently manages and operates a €7-billion series of specialized closed-end property ventures which focuses on high-quality, income-producing office, retail, industrial and/or mixed-use sector facilities in top tier European markets.