Valad Europe has acquired the Val d’Ecully office buildings in Ecully, Lyon for €6.5m. The 4,552m² asset was acquired for its Valad European Diversified Fund (VEDF).
Val d’Ecully comprises two modern office buildings of around 2,300m² each, which are partly leased to Adetel and Apave respectively. Both buildings consist of a ground and two upper floors over a shared underground 100-space parking area. Located in the important TECHLID business district of Ecully, north-west Lyon, the buildings provide excellent connectivity to Paris and Marseille via the A6 motorway and bypass.
Karl Delattre, Valad Europe's head of France, commented: “We are continuing to invest capital on behalf of VEDF in France, selecting assets in strong locations and submarkets where we have identified the potential to add value over the lifetime of the Fund. The loan facility we already had in place provided us with the flexibility to move fast when we identified this opportunity.”
JLL and CBRE acted for the vendor.
