First French real estate acquisition for the Luxembourg fund PPP (LU)

PARISIAN PROPERTY PARTNERS (PPP), a commercial property fund based in Luxembourg with Irish investors, has acquired its first property in France. The property is located near Paris at Bièvres (Essonne) Zone Burospace â€" Route de Gisy and was previously owned by the Franco-American investment fund EPP TIGRE.

The property's primary use is as offices and ancillary activities and it extends to 3,818 sq m with more than 120 car parking spaces. Current tenants are the Belgian company Telindus and the French company Ateme.

The purchase price is 4.870.000 € with a total annual rent of 462,850 €.

King Sturge Group acted for the purchaser.

PARISIAN PROPERTY PARTNERS (PPP) is now looking to acquire further office and/or ancillary activities investments in the coming months.
PARISIAN PROPERTY PARTNERS (PPP) was advised by Richards Butler law firm (Mike Mackenzie-Smith, Edouard Vitry and Joanna Klat) on the property and finance aspects and by Le Breton & Associés, notaries (Jean-François Le Falher) on the notarial aspects. EPP TIGRE was advised by Me Strock notary.

Source: Richards Butler

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