EPP TIGRE, European Property Partners Société Tigre

This property consisted of four light industrial/office buildings with a total of about 30,000 sqm of space.

It is located in Massy, a suburb south of Paris, and not far from Orly Airport.  The site is close to RER (the Paris regional train system) and TGV (high speed rail) stations.

The property was purchased from a major multinational corporation, which leased the property back under a 3/6/9 lease with a 6 year firm lease period.

This property was sold in 2006 (at the 6th year lease break date) to a developer who intended to demolish the buildings and create on this property and on adjacent sites new offices and residential buildings.

The property was purchased for 17,200,000 Euros with 90% of the purchase price provided by bank financing. The property was sold 72 months after the date of acquisition for a sales price of 28,200,000 Euros.