Since the end of 2008 British fund Kenmore European Industrial Fund (KEIF) has been divesting itself of portfolios of real estate assets worth a total of EUR 86 million.
The most significant transaction took place in July of this year. KEIF sold seventeen properties in the Paris region to the private real estate company Continental Property Investment, representing a total surface of 71,875 m². 30% of the properties in the portfolio were office buildings, with the remaining 70% being business premises and warehouses. The transaction was concluded for EUR 59 million and was the only one of its kind and dimension involving this type of property concluded in 2009.
Salans advised Kenmore on the tax issues in all of these transactions. The team was composed of Sybille Salmon-Legagneur (Partner, Real Estate & Tax ) and Marie Dessimond, (Associate.)
Contacts
Paola Pozzi-Dazza, Marketing & Communication Manager
Tel.: +33 1 42 68 92 72 Fax: +33 1 42 68 70 60
E-mail: ppozzi@salans.com