French private equity company LBO France has acquired SCI Saint Ouen Biron, the owner of an office complex located in Saint Ouen, from French SIIC Compagnie La Lucette. The transaction price amounts to some EUR 41.4 mln, French property magazine Business Immo has reported. The scheme consists of two buildings offering 18,000 m2 of total surface area. They are completely leased to IT group Bull and travel agent Kuoni with fixed term leases of 12 and nine years respectively. The site also includes a building permit for a third building which could offer nearly 8,000 m2 of additional space.

Catella Property and BNP Paribas Real Estate advised on the deal. Law firm Cheuvreux and De Pardieu Brocas Maffei advised the seller for the legal aspects, while law firm Monassier and Lefèvre Pelletier acted for the buyer.

LBO France was founded in 1985 and has since carried out 87 acquisitions. The company holds a number of portfolios in France including Whiteco, a group of 15 office and warehousing assets with 103,000 m2, and Immosaïque, consisting of 60 assets with 82,000 m2 of office accomodation.