Acquisition

16th Apr 2007 07:00

Alpha Pyrenees Trust Limited16 April 2007 16 April 2007 ALPHA PYRENEES TRUST LIMITED ("ALPHA PYRENEES" OR THE "COMPANY") ALPHA PYRENEES TRUST AGREES €14 MILLION LOGISTICS ACQUISITION. Alpha Pyrenees has agreed to acquire a logistics warehouse and ancillary officesto the west of Paris for approximately €14 million. The buildings are located in an industrial zone bordering the A13 motorwaylinking Paris to Normandy. The industrial zone lies about 40km west of Paris. The buildings total an area of approximately 27,700 sqm of which the logisticswarehouse represents over 90% of the space. The property is fully income producing and is let to various logistics companieson standard French institutional leases and will provide an initial yield of7.4% The Investment Manager to Alpha Pyrenees is Alpha Real Capital LLP. For further information please contact: Richard Kingston, Chairman, Alpha Pyrenees 01481 715601 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 fund 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 anon-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 co-founded a number ofsuccessful asset management businesses, including Liontrust Asset Management andThames River Capital. Alpha Real Capital is the Investment Manager to Alpha Pyrenees Trust. AlphaReal Capital's European Funds Director, Paul Cable, is Fund Manager, AlphaPyrenees Trust. Paul Cable has 27 years experience in the real estate and banking industries inthe UK, Europe and the Far East and was previously responsible for Sir JohnBeckwith's property investment activities in France and Spain for six years. Further information is available at www.alphapyreneestrust.com including contactdetails for Alpha Real Capital's UK, French and Spanish offices. 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. 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 Bennett David Jeffreys Phillip Rose Serena Tremlett Richard Kingston was an executive director of Slough Estates Plc, one of thelargest London Stock Exchange listed property companies. He was responsible forGroup Finance at Slough Estates Plc for nine years, and chairman of theircontinental European real estate activities. He was a non-executive director ofMersey Docks and Harbour Company and is a qualified Chartered Accountant. This information is provided by RNS The company news service from the London Stock Exchange

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