Tuesday, 3 February 2015
Valad Europe acquires portfolio of three offices for VEDF in south west France (FR)
Valad Europe, the leading independent diversified real estate investment manager, has acquired a portfolio of three modern office buildings located in the south west of France, for a total of €22.2 mln. The assets were acquired on behalf of the Valad European Diversified Fund (VEDF).
Two of the office buildings are located near Bordeaux in Mérignac and Floirac and one in the Basso Combo district of Toulouse. The three buildings total 15,000 m² and are all fully let, with a weighted unexpired lease length of 4.3 years.
This portfolio acquisition follows VEDF’s recent purchase of Orléans Plaza and the broadening of the Fund’s geographic remit earlier this year to include France, in addition to the UK and Germany.
Karl Delattre, Valad Europe’s Head of France, commented: “This portfolio of three offices is our second acquisition on behalf of VEDF and further increases our office assets under management. These latest acquisitions demonstrate our ability to deliver the investment strategy we set out for VEDF and our corporate strategy to diversify our assets under management in France.”
Source: Valad Europe