19th Jul 2007 07:00
Alpha Pyrenees Trust Limited19 July 2007 19th July 2007 ALPHA PYRENEES TRUST LIMITED("ALPHA PYRENEES" OR THE "COMPANY") ALPHA PYRENEES AGREES ILE-DE-FRANCE OFFICE ACQUISITION FOR €26 MILLION. Alpha Pyrenees is pleased to announce that it has agreed to acquire a modernoffice building in Aubervilliers, Ile-de-France for a consideration ofapproximately €26 million. The property is located in the "Seine-Saint-Denis" department which adjoinsParis and is situated to the south of Aubervilliers in an urban development zonecomprising residential, offices, light industrial and retail space.Communications are good with road access via the A86 motorway and the boulevardPeripherique linking Paris to Aubervilliers. The office building totals an area of approximately 8,750 sqm with good carparking facilities. The property is fully income producing and has good qualitytenants on leases expiring in 2013. The investment will provide an initial yield of 7%. The Investment Manager to Alpha Pyrenees is Alpha Real Capital LLP. For further information please contact: Dick Kingston, Chairman, Alpha Pyrenees 01481 715601 Phillip Rose, CEO, Alpha Real Capital 020 7591 1609 / 07771 880 318 Tilly von Twickel, M: Communications 020 7153 1541 NOTES: ABOUT ALPHA PYRENEES TRUST The Trust is a Guernsey registered closed-ended investment company investing inFrench and Spanish commercial real estate. Investment Strategy The Trust's strategy is to invest in a diversified portfolio of properties inFrance and Spain, focusing on commercial property in the industrial, logistics,office and retail sectors. Alpha Real Capital believes that there will becapital growth opportunities in the portfolio through income growth, activeasset management and yield compression. For more information on Alpha Pyrenees please visit www.alphapyreneestrust.com ABOUT ALPHA REAL CAPITAL Alpha Real Capital is a value-adding international property fund managementgroup with operations in both the French and Spanish real estate markets. AlphaReal Capital was established by Phillip Rose and Sir John Beckwith. Alpha Real Capital is the Investment Manager to Alpha Pyrenees Trust. Alpha RealCapital's European Funds Director, Paul Cable, is Fund Manager, Alpha PyreneesTrust. For more information on Alpha Real Capital please visit www.alpharealcapital.com This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Alpha Group International