Valad, the European multi-let real estate investment manager, announces the acquisition of VALAD PARC Acticlub, an 8,100-m² light industrial park located in Marne la Vallée new town, Ile-de-France for 4.8 million. The park was acquired on behalf of Valad's Parc d'Activités fund.
Situated on the outskirts of Paris in the industrial area of St-Thibault-des-Vignes, VALAD PARC Acticlub comprises 23 light industrial units, ranging in size from 275 to 600 m².
Valad's Parc d'Activités fund, which is still in its acquisition phase, invests in multi-let industrial estates, with the majority of the estate currently located in the Ile-de-France area.
Laurent Roussel, Valad's Head of Asset Management in France, commented: "We are very pleased to add the VALAD PARC Acticlub to our French portfolio. This acquisition complements the overall asset profile for the Parc d'Activités fund, whilst providing significant opportunities for Valad to enhance returns through a pro-active asset management strategy."
Valad's 42 properties in France are held in four of its 15 funds and are worth more than 500 million. The French estate comprises over 700,000 m² and 900 tenants, managed by Valad's team of 25 experienced property professionals located in its office in Paris.
During the six-month period to June 30, 2011, Valad's asset management team in France let 17,000 m² of space, generating total rental income of approximately 1.4 million.
Source: Tavistock Communications