Citadel, a unit of UK property group CLS Holdings, has sold a portfolio of 15 office buildings in the Paris area. The AIM-listed subsidiary sold 14 of the assets to French property company Fonciere LFPI for EUR 44mln in cash. The French company is also taking on about EUR 83mln of debt as part of the deal. But the total transaction volume of EUR 127mln is still lower than the appraised value of EUR 133mln in end-2007.
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