European fund manager Catalyst Capital has acquired a portfolio of four office buildings in Toulouse, France for €100 mln from Real IS, the property arm of German lender BayernLB.
The four properties, comprising 47,000 m2, are situated at Toulouse-Blagnac Airport, one of Europe’s largest aerospace industry hubs, according to Real IS. The anchor tenant is European aircraft manufacturer Airbus.
'The four buildings in Toulouse are held by a closed-end fund of private investors which has now reached its maturity date,' said Catherine Luithlen, president of Real IS France.
The vendor said that the airport location was currently being redeveloped, following the opening of a new terminal at the end of 2018, with an 80,000 m2 trade fair centre planned for 2020, plus a new citylink metro line.
'As France’s fourth largest city, Toulouse ranks as one of the country’s most attractive office markets. We are using this positive market environment for the scheduled sale of the properties,' Luithlen added.
Real IS was advised by Vincent Lassalle (SBKG), C&C Notaires and DLA Piper. Lasaygues and Jones Day acted in an advisory capacity to the buyer.