Horizon buys Vitalys building for EUR 51 mln

Horizon French Property Partnership 1, a Luxemburgish property investment fund, has agreed with Bati Conseil to acquire the Vitalys building. The 14,000 m[sup]2[/sup] development is located at the Porte de Lilas, in the 19 arrondissement (district) of Paris. The asset has been acquired for EUR 51 mln with a prior-to-completion formula, with payment as work progresses. Delivery is scheduled for the end of 2008. CB Richard Ellis advised Bati Conseil on this transaction, newspaper Business Immo has reported.

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