RE: Can...7 Oct 2014 14:08
ALPHA PYRENEES SELLS GENNEVILLIERS OFFICE INVESTMENT IN THE PARIS REGION
Alpha Pyrenees has sold an office investment located at Gennevilliers for €7.4 million which is in line with its book value. The property totals 3,410 square metres and is located on an established business park 15km north of central Paris and is let entirely to Husqvarna France on a 9 year lease with a fixed term of 6 years from April 2014.
The purchaser is FRUCTIREGIONS a SCPI managed by NAMI AEW Europe.
The proceeds from this sale will be held within the cash pooling arrangement established with the Trust's lenders, Barclays Bank PLC, to provide security for its loans and working capital for the Trust's operations.