Acquisition

22nd May 2006 07:02

Alpha Pyrenees Trust Limited22 May 2006 22 May 2006 ALPHA PYRENEES TRUST LIMITED ("ALPHA PYRENEES" OR THE "COMPANY") ALPHA PYRENEES TRUST AGREES €13 MILLION LOGISTICS ACQUISITION. Alpha Pyrenees has agreed to acquire a logistics warehouse and ancillary officesin the southern suburbs of Paris for approximately €13 million. The buildings are located in an industrial zone just to the South of OrlyAirport. The buildings total an area of 23,277sqm of which the logisticswarehouse represents 22,110sqm and the offices 1,167sqm. The property is fully let to Point P, a subsidiary of Saint Gobain, a leadingdistributor of building materials in France, on a lease expiring in 2012 andwill provide an initial yield of 8.7%. The Investment Manager to Alpha Pyrenees is Alpha Real Capital LLP. For further information please contact: Phillip Rose, CEO, Alpha Real Capital020 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 €1billion European investment and development programme from 1999-2000), ManagingDirector of Lend Lease Global Investment where, during his tenure from 1994 to1999, he was responsible for managing European property investments andExecutive Manager of listed fund General Property Trust. He is currently a non-executive director of Great Portland Estates and a member of the ManagementCommittee of the Hermes Property Unit 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 therewill be capital growth opportunities in the portfolio through income growth,active asset management and yield compression. 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 Richard Kingston is an executive director of Slough Estates Plc, one of thelargest London Stock Exchange listed property companies. He is responsible forGroup Finance at Slough Estates Plc and has been so for nine years, and ischairman of their continental European real estate activities. He was a non-executive director of Mersey Docks and Harbour Company and is a qualifiedChartered Accountant. This information is provided by RNS The company news service from the London Stock Exchange

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