28th Jul 2006 16:48
Alpha Pyrenees Trust Limited28 July 2006 28 July 2006 ALPHA PYRENEES TRUST LIMITED ("ALPHA PYRENEES" OR THE "COMPANY") ALPHA PYRENEES TRUST ACQUIRES TWO WAREHOUSES IN ZARAGOZA, SPAIN FOR €8 MILLION. Alpha Pyrenees has purchased two warehouses located near Zaragoza, Spain for acombined price of approximately €8 million. The warehouses are located in an industrial estate close to Zaragoza which is ata crossroads between Madrid, Barcelona, Valencia and Bilbao. The buildings totalan area of 9,520sqm with the smaller of the two properties representing 2,590sqm and the larger warehouse 6,930 sq m. They provide Alpha Pyrenees with a netyield of 7.0%. The investment purchase is a sale and leaseback with a mid-sized Spanishcompany. This is Alpha Pyrenees' second purchase in Spain in recent months, havingrecently purchased a portfolio of retail centres in Andalucia for approximately€36 million. The Investment Manager to Alpha Pyrenees is Alpha Real Capital LLP. For further information please contact: Phillip Rose, CEO, Alpha Real Capital 020 7591 1609 / 07771 880 318 Notes ABOUT ALPHA REAL CAPITAL Alpha Real Capital is a value-adding international property funds managementgroup with operations in both the French and Spanish real estate markets. AlphaReal Capital was established by Phillip Rose and Sir John Beckwith. Phillip Rose has 25 years' experience in the real estate, funds management andbanking industries in Europe, the USA and Australasia. He has been Head of RealEstate for ABN AMRO Bank, Chief Operating Officer of European shopping centreinvestor and developer TrizecHahn Europe (where he was responsible for a €1 billion European investmentand development programme from 1999-2000), Managing Director of Lend LeaseGlobal Investment where, during his tenure from 1994 to 1999, he was responsiblefor managing European property investments and Executive Manager of listed fundGeneral Property Trust. He is currently a non-executive director of GreatPortland Estates and a member of the Management Committee of the Hermes PropertyUnit Trust. Sir John Beckwith has been involved in property investment and other investmentfor his entire working life. He founded London & Edinburgh Trust PLC ("LET") in1971 where he was Chairman and Chief Executive Officer and developed it into oneof the top ten listed real estate companies in the UK. Following the sale ofLET, he established Pacific Investments through which he founded a number ofsuccessful asset management businesses, including Liontrust Asset Management andThames River Capital. Alpha Real Capital is the Investment Manager to Alpha Pyrenees. Alpha RealCapital's European Funds Director, Paul Cable, is Fund Manager, Alpha PyreneesTrust. Paul Cable has 25 years experience in the real estate and bankingindustries in the UK, Europe and the Far East and has been responsible for SirJohn Beckwith's property investment activities in France and Spain for the lastsix years. Further information is available at www.alpharealcapital.com including contactdetails for Alpha Real Capital's UK, French and Spanish offices. ABOUT ALPHA PYRENEES Alpha Pyrenees is a Guernsey registered closed-ended investment companyinvesting in French and Spanish commercial real estate. Investment Strategy Alpha Pyrenees' strategy is to invest in a diversified portfolio of propertiesin Spain and France, focusing on commercial property in the industrial,logistics, office and retail sectors. Alpha Real Capital believes that there will be capital growth opportunities inthe portfolio through income growth, active asset management and yieldcompression. Directors The Directors of the Company, all of whom are non-executive, are responsible forthe implementation of the investment policy of the Company and the overallsupervision of the Group's activities. The Board consists of: Richard Kingston (Chairman)Christopher BennettDavid JeffreysPhillip RoseSerena Tremlett This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Alpha Group International